RE: Market Cap8 Sep 2021 20:16
Out of curiosity Mr I do you own here or just UJO, just asking for a friend as battling you is too easy and no longer a challenge ?!
Looking at the bull and bear case at the moment, I think if the price holds last years low which it has once and briefly went there again today this would be a compelling short term risk/reward buy. It's obvious that there is something down there, it's likely that something tangible will come out at some stage, the only question is whether they have any success in the next few weeks. Medium term they will need to raise more money, that's pretty much nailed on. So still a binary play but I see it as a worst case 50% downside on an unsuccessful drill, and an easy double bag if anything reasonable comes out. If it holds tomorrow I'll add on the basis that I may need to average down, but at a level that pays me out and puts me back in profit if they achieve something positive for a change.
Future value and short term flipping is definitely not a relevant discussion in my view, so I agree with RNST on that one.