Also note how much the new directors have bought in the placing - about £300k worth. And they have options for more if the company becomes ebitda positive and if the share price is over 10p and 15p for a sustained period. All this points to a company that wont have a share price of 1.75p and a market cap of 2.3m for very long.
Have a look at some of the other stocks that Robert Keith has got involved in. I can think of MPM (2 to 16p) and GFIN (4 to 28p). There are probably others. I think he knows his stuff. I reckon he's worth following cos he seems to get things very right.
I fully expect this will be Darwin converting. The only reason GRPH are this price was Darwin manipulating the price down to convert. Hopefully onwards and upwards after the RNS confirming this.
I imagine all the old Trap Oil shareholders felt like most on this board. But the new guys who bought Jersey Oil and Gas after the name change and consolidation have had a 10 bagger in 12 months without too much changing in the company other than a farm out tthat gives potential. This one has more tax losses than JOG and substantial acreage in Africa.
This looks the African JOG to me....not a lot of downside but huge upside.
cash nearly double this market cap - looks like a great rns this morning which should increase the forecast $6m of revenue in 2017. Market cap is 1m with a small free float - this should continue to rise.
They have $600k of cash - so like many of these companies, enough to keep the lights on. They are 62% held by a Chinese company that did a placing @ 0.46p I think. They have a lot of Iron & Nickel and does get squeezy - market cap was £350m in the commods bull market 8 years ago