The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Another day without a RNS therefore another day closer to the release of news, what the rest of the day brings I cant possibly put a finger on it, hopefully not too much of a drop with PI's getting jittery about no news.
Conclusion
To summarize, I believe Sona is 60% over-valued in the best case for their stock based on a more realistic assessment of the market share that they could capture when/if their laggard product eventually gets approval. In the best case for humanity (and worst case for Sona) where we either get a vaccine, herd immunity, or the virus simply goes away, I would expect Sona to go back to sleep and for the stock price to return to the realm of penny stocks, representing a very significant downside from current prices.
Given a complete absence of institutional accumulation, erratic spikes in share volume, and wild +20% moves in price without any news, I fear Sona has joined the club of speculative retail momentum vehicles which always end in disaster for those holding at the top.
Taken from https://seekingalpha.com/article/4361303-sona-nanotech-another-covidminus-19-tag-along-significant-downside-expected
CawCaw thanks for the explanation on the date being the 4th of August regarding the release of possible positive news, it makes sense, lets hope the news also makes sense and puts a big smile on the faces of all the LTH's and of course the STH's as well.
A lot of people in a similar predicament Demon77, however you have took the bull by the horns and made decisions that are based on you dealing with the current pandemic to a very high level, well done you for not sitting on your laurels and good luck in finding new employment and a brighter future.
CawCaw I don't think the agreement will be signed by the 4th of August either, when you look at the last RNS for the extension on the agreement it was very similar to the previous one, with a few additional words which more or less mean a cut n paste, AM is not one for actually making previous predictions come true therefore, I am with you , there will be another extension to the current extension adding to the previous extension!
Angus it has been a lot longer than three years for several of the investors, however as a long term share holder I can see a light at the end of the tunnel, I know we have seen it several times before however this time its not a train coming straight at us, this time its a drilling project with options of sourcing and producing many, many barrels of oil.
Not the worst RNS we have seen this week, basically saying they are closer to completion which shall likely be completed before the 4th August. The share price will remain around what it is currently priced at, allowing people to but into the share at the current price prior to the anticipated huge increase in the share price on completion of the agreement, hopefully news regarding a drill date etc. thrown in with the RNS.
Very likely the share price will reduce again, closer to the .30 of a penny share price, there will be no rise in the share price until AM pulls the wool over the eyes of investors with some more b##l s###t stories regarding the drilling of the field.
I am hoping that today brings a more positive day to the share price, and also the level and standard of information highlighted on this forum.
My pages are currently showing around 50% "This message has been filtered, please adjust your filters to view" however I am not missing the low level of ramping and chat about other shares, these messages should be highlighted on that shares forum, not on COPL's.
IMO the share price is currently reflected by the previous RNS highlighting the price of 0.30p.
IMO the price will remain around that price until there is some more positive news (which should be soon)
The price will not stay at this level for ever however, its getting easier to spot the more interesting posts from the posts highlighting the share price which most, if not all can tell through the applications we have access to.
OPL 226 is located in the Niger Delta province, offshore Nigeria, and has an area of 1530 km2and is located in water depths ranging from 40 to 180 metres, therefore the likelihood of requiring a drillship is very low, my guess is that the drilling will take place with a Jack Up mobile offshore drilling unit, $84,074 per day is the premium day rate price for a jack up compared to $351,545 per day for a drillship, therefore there is a slight difference in costs of the different types of rig. The previous time that COPL highlighted that they had shown interest in a rig the rig was a jack up therefore I assume that the wells will be drilled using a jack up.