Member Info for MadChatter

I don't think you understand how RTO's work Cavendish. This IS underpriced for what it has. Companies that RTO don't do so from their mcap being their cash balance. Look at BOU, a cap of £3m (and very fairly priced at that) and a cash balance similar to here.

This is a strong buy all the way to 1.5p minimum imo.

Realistically, given the cash position and their plans this should easily be sitting at 1-2p

Out of curiosity when is the effective start/ end date of the RTO process?

Wait, so a month ago they issue an RNS to say they are going to sell most of their assets in a loss making deal, and then a month and a half later the share price jumps 300%??? Someone help me out here!

Apologies, I was just going off google, says founded 2012

Pretty good bounce off 52 week low this morning.

Just a reminder I think the TSX opens in about 2 hours.

Looks like the spread has opened up again, are they fishing?

I am a holder here already, with no further funds to top up. I too believe this should be sitting at at least 10m mcap.

However, in the interests of giving a balanced view, I don't think people should expect mega boom (to 20m - 30m mcap etc) any time soon unless newmont make an offer.

If this actually goes all the way to production without being bought out then it's at least a year away from mega boom.

So certainly buy, but be aware of the time scales here.

Isn't anything over 30g/t Au "bonanza" grade?

@Tops

Yes, that's where I've gone.

I agree this could go crazy indeed. But I'll let others decide their risk appetite

Reached my target so I'm out, but wish all the best here. Especially hobione (the real one) on twitter, as you've been taking some stick over this.

This was well over 50p most of last year

The rns today was the market maker declaring they have no interest, as per takeover rules?

Game on!

Do we have any iraqi speakers/ readers here who can trawel through obscure websites and at least give us the website to watch for it to be announced? If it comes before rns etc

Sorry I had to smile at this.

If there is one thing a billionaire won't do its buy out a tiddler company on the open market

If they have ratified block 6 in our favour that's literally straight line to 10p.

For those who are new to PET, we recently had a multi billionaire oil legend buy into Pet, a tiny minnow.

We also had another multi millionaire specialist in financing and acquisition of oil opportunities buy in, and a consortium of other buyers.

Collectively 29.9% bought.

Pet have ongoing interest in Ghana, and Iraq. It will be multi bagging time if our existing claim on block 6 is ratified, and the Iraq government are extremely keen to help get people drilling in 2019.

It is pretty obvious the Iraq government wants people to be drilling ASAP.

As this block 6 is a ratification it's outside the normal "rounds" iraq has yes? I was trying to find dates, but there is no round ongoing atm as far as I can tell??