RE: Nostra Terra is a great example of why the AIM market is dying and has been for some time23 Nov 2024 09:40
Nostra Terra will be one of those to buck the trend of AIM in general.
Unfortunately many AIM listed companies have gone to the wall because they simply either have poor management, no revenue, or revenue but eye watering losses, or they are in unsafe jurisdictions with opaque govts, or simply have products or services that are no longer in demand as the world has changed. These are the companies that the market refuses to fund anymore at which point they fold and delist.
Even Harl which had a £1Bn defence contract folded because of poor management and unsustainable debts of more than £160M with no prospect of ever making a penny in profit.
So that brings me back to NTOG. This imo is one of those gems that really could do rather well from this point.
The bod has a new CEO in place, Paul Welch with a proven track record of turning around companies having previously worked for Shell. They have a new management team in place, Jim Newman in particular (no relation to Gary Newman lol) has a decent amount of skin in the game here.
They have massively improved production at Pine Mills, now become profitable at corporate and operating level, will be boosting production further in the short term with water injection, bringing a further 4 wells online and have no plans now for further raises. Oh yes and their market cap is just around £1M with a current NAV of over £10M!
The recent raise was highly popular with institutional investors taking part as well as management. I wouldn't be at all surprised to see one or two TR1 announcements at some point.
So I definitely see potential for a 5X increase in SP here short term.....