Placing overhang17 Aug 2019 07:20
Very frustrated at the double placing for top drive and the recent 43 million shares at 2.5p. Can’t blame institutions selling at a small profit to be risk adverse, I am more frustrated at buying back in s this week at 2.9p when I should have waited for the placing price. Zen need to prove they are a serious company that can drill when they say they do and achieve some decent success. With the fully owned rig which is well specked the odds are they should do well at c-37 and later at c-30 and the market cap should be a lot higher but till they prove they can actually successfully drill the sp will remain in this range. Any hint of the black stuff and this will definitely rocket, warrents at just over 6p May be a future hinderance though an£ worth bearing in mind GLA