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Excellent response by RBD - highlights the significance and potential scale of West Newton.
Should be a good day - looks like trucks will be rolling into West Newton next week as well. Wouldn't want to be out of UJO over the weekend.
Markets are forward looking and expectations build in anticipation of future revenues. Obviously there lies the scope for over-valuation when expected revenues don't materialise. As far as I can see we're hardly at that stage with work on the ground just underway so talk of being over valued is premature.
The market will decide fair value once the results are known.
Looks to me like it's bottoming out. Nothing goes up in a straight line. Well done to those who've got out and made a profit but personally speaking I'm in for 300% (from here) not 10-20%.
Good opportunity for those waiting in the wings IMHO.
Jack, always good to have a reasoned alternative view to the rampers but I'm not sure about your reference to Joe "dipping his toe in the water" with the recent £25k splurge. That makes his total 286,832,806 ordinary shares in the Company representing 1.86% of the issued share capital, per Monday's RNS.
Just highlighting in case you weren't aware. Good luck with the short. You'll be betting against the trend.
From the UJO website:
Target price .82
http://unionjackoil.com/wp-content/uploads/2020/06/UJOFINAL.pdf
Even though I'm massively bullish about the prospects here I've been impressed with the strength it's showing and increase in volumes traded. I thought earlier after touching .25 it might pull back but instead it looks more likely to breach .26
It's looking like 250m shares will have been traded today and increasing in numbers on a daily basis which is what you want.
Anyone waiting for a cheaper entry price might be disappointed.
I'll take that for a Monday - up 4.5% and confirmation of a director adding £25k's worth.
Looking forward to the coming weeks and month. This has to be one of the safest bets on AIM at the moment to double or triple before the year's out.
Nothing goes up in a straight line. There will be pull backs after strong rises as the short termers take 5-10% profits.
Take a look at charts to get an idea of where there will be areas of resistance. A close above .21 or so will be significant.
Struggled to get past .215 a month ago so a close above that would signal the next leg up.
Looking good today with over 50M shares traded already.
We all know what's coming so .30 by end of July is a real possibility.