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Petroneft looks a good recovery play based on increasing production and higher oil prices, there has been some interest on Twitter which these days seems to popular with the private investor.

I personally believe the company is materially undervalued around the current £10m valuation, the new management seem very focused and determined to drive shareholder value.

The stock is quite illiquid and moves quickly on low volume, I expect it will re-rate quickly.

The Tweet below offers a decent summary...

@Oilplayer2009

#PTR (1p) no surprise Petroneft is rising in these woeful markets - #PTR valued at £285m in 2011 at 75p a share

Oil production will soon EXCEED 2011 levels yet #PTR is only valued at £9m

840m shares v 390m in 2011 - 50% of licence sold since - like for like = 19p #PTR share

https://twitter.com/Oilplayer2009/status/1354812268672765953?s=20

If this drops below 0 .1p there will have to be a capital reorganisation to allow W to issue shares, rather surprised they have not actioned this already.

Masterman has always resisted a share consolidation but he may have no choice shortly.

What is it with Tungsten projects, they all seem to be a graveyard for investors.

Nothing available on-line, what a surprise, market playing games once again

The RSI is now at it's lowest level for 12 months, this means the shares are materially oversold and should start to attract bargain hunters.

We will see.

HSBC are not dumping, the account is a holding account for their clients who are, in the main, private investors.

Align have tweeted they are not selling any more stock for the time being, their share sale was predictable as their stake was getting top heavy for their portfolio, Align are quite a small outfit after all, they currently hold 10m shares.

On days like today in the market you get the panic sheep effect, one small sell is often followed by another and so on, it was interesting towards the close the market wanted quite a large premium for anything over 50,000 shares.

Best stay focused, damages are certainly IRO £40m worth 40p a share, news will come in due course.

Twitter

@Oilplayer2009

#ECR (2.9p) amazingly the RSI is the lowest for 12 months - another junior resource stock that is in materially oversold territory - Opportunity !

https://twitter.com/Oilplayer2009/status/1354079531171274761?s=20

Lenigas has 10,000 Twitter followers, knows the Australian mining sector inside out and has industry contacts - he suggested in a earlier tweet this project could attract BHP.

He clearly thinks there is a great deal of upside to come out of Xtract.

https://twitter.com/DavidLenigas

David Lenigas

@DavidLenigas

Xtract Resources is going to be more than very interesting this morning when the London market opens. Big #Copper hit in Australia announced after market yesterday. Why not 7am today - a bit weird. But hey! It looks big. #XTR I’m in. See what happens. DYOR though.

Just noticed this elsewhere, David Lenigas posted...

Lenigas 25 Jan '21 - 17:37 - 2381 of 2402

This could prove to me a monster. This will be in BHP’s radar now.

Why the heck did Bird not release this RNS in the morning, it makes no sense delivering such an update after hours.

Only credible explanation would be they may have another one lined up possibly concerning one of the other projects.

As Cornford implied in his article it is potentially dangerous for armchair private investor 'geologists' to make assumptions and commentaries on such results, some views will be made dependent on their trading position for certain. Hopefully the interview planned with the experts Bird has lined up will reveal more, so far every comment the real experts have made suggests Xtract have a major discovery on their hands.

Comprehensive overview

http://icebergshares.blogspot.com/2021/01/xtract-resources-bushrange-racecourse.html?m=1

Final paragraph....

'Xtract, have done very well, either by luck or skill, the big increase in depth will greatly change the tonnage, probably moving it into the commercial category. It will also, probably, increase the chance that it now matches many of the similar prospects that extend to depth, also that the wider Bushranger license area contains additional prospects. That is of course if the new mineralisation is as described. At a £30m market cap, I am not of the opinion, that any of the scenarios are priced in'

If anyone is interested the RSI is now sitting at a materially oversold 22, it was 87 back in October, the share price hit 6.7p in mid December, traders will be looking in for sure.

At some point a bounce will come.

Have to say Bird seems overly excited about Bushranger, no wonder he managed to get £5m in the kitty, for once I feel the placing was justified, the size of it will stop the usual suspects waffling on about another placing in X weeks time, folks can buy now with some confidence ahead of what looks like significant news-flow.

Compared to peers who have nothing like the project suite, let alone blue sky Bushranger, Xtract looks materially cheap given recent events.

Maybe Zak Mir will be right and the shares will, once again, hit 9p in the near term.

Director Talk working link https://tinyurl.com/y2q59gqg

Worth noting that for every £1m Ascent are seeking in damages is worth approximately 1p on the share price.

The damages claim is almost certainly north of £40m, equates to 40p a share, no wonder the shares are hard to buy, some rumours kicking around that some settlement could be announced by month end - we will see.

City big hitters have been building large positions, follow the money !

The market is finally taking notice of ORR, whilst the focus has been on the massive value in Senegal it is now starting to realise the potentially company making value in Cameroon, the Twitter posts deliver some explanation as to why 10p+ not a unrealistic target price.

https://twitter.com/Oilplayer2009/status/1351262117933027336?s=20

https://twitter.com/Oilplayer2009/status/1351192132384681986?s=20

This is poised for a major move, it was exceptionally hard to buy online all day, someone seems to be taking anything on offer, Corcel has interests in some very large nickel deposits in PNG yet still is valued at sub £4m m/cap.

The introduction of Sinom Group HK Ltd as a strategic investor in Corcel is material, in the most recent investor web event it was confirmed that Sinom would fund and/or provide off take partners/financiers from China to develop the PNG nickel projects, early stage near surface mining (similar to tailings dumps) has been targeted as soon as the Mining Licence is awarded.

The shares are tightly held, expecting to see a major re-rate, this could be the next multi bag sector play.

Some decent commentary on Corcel's Mambare nickel project.

#CRCL (1.2p) Mambare #NICKEL project could contain $130b of resource - Corcel owns 41% stake - valuation taken from partner Oro Nickel website

https://twitter.com/Oilplayer2009/status/1350818357340229632?s=20

It is interesting that Corcel have teamed up with Align as it was Align that backed Ascent Resources (another company where JP is on the BOD) Align started promoting Ascent around 2p a share and have completed a number of research notes since.

Ascent shares 4 bagged since Align got involved, they also provided £400k of funding to Ascent and have converted each drawdown into shares at a significant premium (7.5p) to the then underlying share price of circa 3p. Align are holding tightly onto their AST shares and have a target price of 18p.

My understanding from the last investor event is that the forthcoming Align note on Corcel will have a conservative target price way in excess of the current 1.2p, worth noting there have been many new developments since Corcel was last researched.

Some calculations by Corcel followers suggest the new target price could be a conservative 6p-7p, at 6p Corcel would be valued at only £18m.

Looking at Twitter there are some very well healed folk buying into Corcel, the overhang could be below 15m shares now, once cleared many believe the shares will bounce hard.

Ignore the trolls, the same entities were bashing Ascent at 2p, the shares are now 8p.

Two 'attacks' by TW about Colin Bird over the weekend via 2 separate bear casts, not sure if it is related to Xtract or Jubilee, I have not listened and do not intend to.

I find the whole matter unacceptable more-so as Bird provided a great deal of content for TW's summer online 'shows' which cost £10 to access.

Has anyone any thoughts about Sanderson and the £1m loan, with conversion rates of 1.45p/1.65p/1.85p a share, in total around 60m new shares, will Bird use them?

One also has to wonder if the vendors of Bushranger will start selling their unlocked up stock, the total being 100m shares at 1.25p issued of which I believe 25m can be sold anytime, the rest subject to lock ups.

I think it is important to consider the above as it may hinder upside, some clarity from Bird may be beneficial, some more funding will be needed at some point.

Thoughts ?