Current Situation10 May 2018 10:24
I fully agree with the poster who stated that the SP is being manipulated and held back, although the release of Bookbuild shares is also suppressing the move Northwards.
Read above, below and between the lines, and what do you see. 500M new shares of which 490M were completely new investors. Given their status, do you not think they would have done due diligence before they parted with their cash? You can argue all you like about the timing, however with the rise in value and the 50% COS, DW deemed it prudent to bank cash now. Now we have ALL taken a hit to our paper profits, but in the overall scheme of things, how long do you think we will have to wait before the SP returns to 2.7p?
There is so much positivity coming from the 88E camp, in terms of FO's and the current market being the right time to deal. We are in a great position even if the HRZ fails, with over 1M barrels of Conventional resource and Yukon Gold to unfold. As to the HRZ, PB did so much work over many years and I remember the saying "we have set up to fail quickly". That was said three years ago, and we are still here on the verge of a major oil discovery in an area rich in hydocarbons. I mentioned the OSH/Armstrong deal yesterday, which is yet another tick for prosperity.
Believe what you want, but look at the fundamentals and facts surrounding this project, or should I say projects.
I personally am waiting for the nitrogen to do its thing within the next 3-4 weeks. If you don't believe me, then wait for the herd to arrive and see what that does to the SP.
Good luck with whatever you decide to do!
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