The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
A good run of medium sized buys in the second half of the morning, returning us to the effective buy price at close yesterday afternoon.
This could lead to a run over 4p this afternoon, without the fall back from daytraders cashing in their chips that happened yesterday.
I think there are now 2.264b shares. Anyway dividing $200m by 2.1b at current exchange rates gives 7.5p
Whatever the answer, it is considerably more than the current share value. My view is three and a half times the value plus any residual value of the remaing assets (see previous post).
Why isn't the share booming? Firstly the valuation is itself an estimate, secondly the sale is in early stages, and thirdly shareholders have been disappointed by previous RNSs
Gwm, the boat is about to be leased out later this year. The RNS sugests they are in early stage negotiations on other boat related projects, probably leases.
The recent posts from LTHs seem quite clear to me, but as a new shareholder there is quite a lot of history to catch up on. Go back a few days for long lists of the status of all wells and licence areas.
Thanks for the tax advice, but all my shares are in an ISA
High ria, there was a good dividend here for a while last year, but that has currently been suspended. A large number of drilling and workover projects together with the leasing out of a shallow water drilling boat, means that divis could be resumed later this year.
Some people on here, would prefer the profits to be sunk into the deep wells where the real profit could come, rather than returned to us as dividends.
This share is substantially undervalued and can move up rapidly on a relatively small number of buys (LTHs don't readily sell although some trade). You are more likely to make your money on capital gains than dividends.