I finally made the decision today to sell my UKOG shares at a loss of 75% and make use of the dip here, those dog shares have annoyed me for ages, even more than my very substantial SXX holding. I feel the possibility of upside here is multiples of what might be on offer in UKOG in the mid term and also brought down the average a bit after a largish purchase I made here last monday, just before the RNS :(
RE: Recover from MMs orchestrated drop23 Jan 2020 08:39
This isn't some two bit mining/oil stock ( of which I hold a few I should mention) but a great company, making products that people want and need and more importantly turning over the money. I don't think there will be any doubt in the raising the money needed to move forward one way or another and mid term we will all benefit IMO, dyor
So, been out all day skiing cross country up in northern Finland and have just come into this. What's happened, we knew the company had money until March, they have now said end of April which gives an extra months leeway to find funds, sounds OK and profits up 12%. 2 positives, surely. Some people are so skittish and expect 20% profits everyday or nothing.
'Through completion of the second phase of metallurgical testwork and focusing on flow sheet optimisation and offtake potential, we believe that we can progress the project and advance such important workstreams whilst efficiently deploying capital and marketing the project's potential and viability to both the industry and potential partners."
I think relative to the mcap, and current sp it's a large buy (which is encouraging) regardless of how much the punter has but agree that we all have different levels of risk. I have nearly the same amount in, but having been bought over some months my average is unfortunately somewhat north are where we currently stand, I wish I had that amount of shares instead. GLA, I need this to recoup at least some of the hurt over at SXX.
If you fully believe 5.5 is the bottom and have money to throw at it, why not, this could just be the start of a longer game, any upside will benefit the brave. I'm waiting to see how this plays out, I'm about 16.5 average ( a big buy at 30p :( ) and around 35k underwater at this price so a little higher would ease the pain. Here's hoping.