This is a company for the patient. Just re looked at the September interview around the Lengo deal. It is a development project with first gas late 2020 or early 2021. The value of the gas net to Coro? 7-11p apparently....and you can buy these share for less than 2p
As a Sound. Investor for a number of years, I am used to more upbeat Rns with poor results. Really hoping that MH is just being cautious and realistic here. In theory we should have a good chance of moveable gas, but there was nothing filling me with real confidence either. If this flows well, then it bodes well for the future here I think.
Wow, months of planning gone into this apparently. I’m wondering if RGM are having second thoughts now will have seen what happened here? Too late now. Will be interesting to see his style over there from the sidelines.
When others are fearful. Need to take the emotion out of it. Could lose 3p a share, but just as easily gain 12p a share in 2/3 years. I think there is value at these prices if we get that gas production and if we are successful with some lower risk exploration drilling who know? And what about a free, half, decent carry on Sidi Moktar ? Worth 3p in own right? You could argue that the risk/reward balance had never been better here now.
The way I see it is, there is a plan ( and a plan b should we need it ). You either sell or you gamble that it will work. First gas in the next couple of years has to happen. And hopefully some lower risk exploration and a farm out for SM? This will take another 2/3 unfortunately, but to me, better than selling for peanuts. Going to leave it to see what unfolds. Meanwhile, the other two of the (un) holy trinity are both drilling now. Coro 2/2 so far and heading for a bonus exploration target and Echo finally starting to drill their Tendrara, Tapi Aike. Sometimes best not to dwell on the mess we now have here. I think either sell or hold and leave. Let’s hope MS can make a difference....