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I'm just surprised that the most positive posters here have gone from 1p + certainty to acceptance of a future drop to... 0.2?! As well as seeming to see that as likely rather than unlikely.
That's brutal.
shaa, you are probably right.
But in any 'red first off', 'wait until November' scenario, what you are actually telling people, what they will read from your words is 'sell out and buy back in lower'.
I'm aware of the reasons for the current price action, but I think my point stands.
I'm not just talking about me, I'm thinking about how investors will see the company if that occurs, because how they perceive a rapid-fire second fundraise after relisting, and price drop from pre-suspension price, is going to affect their attitude to investing in the stock. Sentiment matters.
Noob is right though that if it is an incredible deal on Cuda's assets for example, investors may not have a problem with it. But it may not be that, we don't know, it may include extra for development, which again may be received well if it comes following a commercial discovery, or not if more exploratory. But whatever it's for, doing it at 0.32 is not what anyone hoped for.
And again, there may not be a placing at all.
The point is that there was a raise for an acquisition and the share price is much lower.
So we hope for a far higher share price before another placing and acquisition. Because so far there's no shareholder value.
I'm not saying there won't be shareholder value going forward, but you might forgive the concern if a large placing occurs at circa 20 percent lower or more than the pre-suspension price. And again, I'm not saying there will be, we don't know.
We had several months of freezing fog before relisting. The difference now is that just as the sun is breaking through the clouds, the CEO has dropped tear gas and smoke grenades.
But who knows what Monday will bring. Best not to follow derampers or rampers, if any be such. Watch your parking meters I suppose.
Damnit 1p, 2p... Whatever.. 0.5 or 0.6 and I'm happy. 0.32 and may not hold that? With 30 million barrels, Ryder report saying more, start of 40 year production life, oil pushing 80 is it? Something has to give, doesn't it?
To be fair, no CEO running a business with no income based on a Nigerian moonshot, partly through a once in a 100 year natural disaster that shut down borders and crashed the oil price, is going to achieve a great reputation as well as surviving in business.
Before the financial crash, he was a successful oil man, was he not? That's part of my rationale for investing here, he's not untested or incapable.
This is what I don't understand, oil is up from when we were conservatively pegged at at least double the current mk. Production is up. There is a potential discovery. Oil looks strong not just short term but for the foreseeable future.
But our market cap is going to drop? I find this incomprehensible, though I'm certainly listening and not discounting it.
When you say volatile, do you mean you see it dropping from 0.32? After all this, waiting 5 months, the sell off, and then dropping below 0.32? Which is in itself supposed to be a disaster?
One thing I've learned never to discount is sentiment. It can crush a stock for many months. If Art betrays investors again, not when he can be excused for stringing them along to keep the lights on but when the wealth is piling up, how will that play out, barrels per day notwithstanding?
Why do you ask?
Is your view that whatever the spin people put on it here, this is actually really bad for the share price short term and everyone is encouraging others to hold but actually everyone's going to sell as they did when it relisted, and maybe get in lower later on?
That's the cynical view. I can't quite be so consistently cynical yet but I'm getting there.
No, honestly, I just always look for the worst case scenario with stocks, out of bitter experience. I'm not suggesting this is probable, and hopingforbags last post actually gave a good counterargument pre-emptively, that they should want a decent mk going forward to attract better investors.