The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I used to hold several years ago when it spiked at over 2p. Since then it’s only drifted downwards. I sold out at 0.60 some years back and it’s since lost another 80pct! I put it down to the BOD’s strategy of buying shares in junior miners with long term projects that are unlikely to see any short to medium term profits but will certainly require a great deal of cash to build and operate.
This is likely to fall further IMO and I would only invest directly in the underlying companies in which Cadance invests. Why invest in Cadance and pay for another layer of overheads?
Just stumbled across this https://mobile.twitter.com/fadec92/status/860031288396435457
RNS not even on ADVFN
We need to shout about it. Look at RMP price reaction!
Check it out!
muscat: much more than “a wing and a prayer’ vis “Winx-1 is located ~4 miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimate prospective resource of 400 million barrels of oil (144 million barrels net to 88E) across multiple stacked objectives, including the Nanushuk, which is the primary target of the well.”
The presentation does paint a very pretty picture & our participation is indeed fortunate. I wonder what the likelihood is that we shall strike oil? It appears more than 50% based on the previous successes highlighted.
WAaussie: need to look at market capitalisation: we are merely £70m so way to go
Kat70: they could have at least provided the flow test results! LOL
Some people are never satisfied whereas others enjoy living in the moment.
SilverTrader: that day will surely come and when it does most will be left wondering why they didn’t see it!
skyebeacon: I would like to skate on that ice road. My ponds are frozen this morning and I’m wondering what the fish are doing. Another busy day ahead!
The analysis of the shale is ongoing following Icewine 2 flow test last year. Once we can understand where we have the farm out process can start. Plenty of other news to come in the meantime. GLA
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Lefty, you must appreciate that not everyone here is a trader. Some like me invest and yes I could have traded and maybe ended up with more shares in 88e and/or other companies with the same original stake but that’s a different strategy. Some like to invest and have the patience to see it through even though they could lose it all.
Kat70: Well, it is Friday so what do you expect!
The Dow Jones and NASDAQ in particular have risen strongly since Trump became president and the correction we are currently seeing is not untypical after a strong bull run. Markets tend to run ahead of themselves and when corporate earnings disappoint there is a correction. Also, talk of a slow down and trade war spooks markets. There is a great deal of uncertainty in the world at present which is why I like companies such as 88e. As long as investors have not bet their lunch money and rent this is an excellent time to have a stake in a company that probably has little downside and enormous upside. The main reason why companies fail is that they become insolvent and 88e has shown repeatedly that it can raise new equity. The company is in a strong position and I expect to see this reflected in any joint venture it concludes. Yes, it would make a nice Christmas present to have a farm out agreed by the end of this month but in the scheme of things it would not concern me if it happens early 2019.
Monstersaurus: For those that just look at the billions of shares issued, there is probably just as much oil and more on our acreage. Good to keep some perspective.
https://www.asx.com.au/asxpdf/20181114/pdf/4408dpx4lnfl6z.pdf
Learningtoinvest: they were worth 30p because that’s what peeps were prepared to trade at and the market cap was therefore based on sentiment because a price to earnings ratio can only apply when there are earnings.