Good one Dan!9 Mar 2020 08:35
As most of you know, who follow my site and twitter, I've been a fierce critic of Ascent Resources. I know this company inside out and everything that's happened to AST I've correctly predicted. Clive 'carve 'em up' Carver with his crusty sidekick, hapless Colin Hutchinson, destroyed the company. They had no regard whatsoever for their own genuine shareholders. It was never about getting the Slovenian gas asset into full production. Ascent became a 'confetti machine' for the likes of Darwin, Henderson Global et al.
If the new team had taken over 18 months ago the SP would probably have made it back to 2/3p. Fast forward today post the consolidation and placing, we have an SP of 4p ish with a resetting of the 'stock clock' to 46,196,484 shares in issue. The market cap' is sub £1.8M. Once the corona virus 'deflating' effect passes & the spooked herd stop burning the house down, we'll see an inflation, subject to sorting out Slovenia & depending on what comes into Ascent, 10p/15p, maybe more, looks achievable......