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It looks like pressure us building up on Gangfen to secure more lithium production sites. They can't go anywhere in Mexico except Megalit and Mexalit which makes Cadence's holding very valuable. If they paid £254m for Bacanora's stake, that makes Cadences holding worth at least £85m. Although we saw this as a long term benefit and asset, I can't help thinking that things may happen sooner than even the Cadence Board thought !
In all fairness DL put me into UKOG at 2p and they peaked at 14P did I sell no! my fault. not his ! He gave me the heads up on Wishbone again at 2 p for me it was a 16 banger. Did I sell no ! the reason for my reluctance is that because the shares were so cheap, I could buy a substantial number which if they took off and reached say 50p or £1 it would be life changing. So hang in there and hope. What has stymied UKOG is the local council preventing them from doing sidetracks and other ops to maximise potential. Then UKOG invested in Turkey where any Just Stop protestors would get run over! There is a lot of oil in Turkey. As a marine claims man I dealt with thousands of claims for Turkish oil shortages etc. What UKOG has could be connected to a vast lake which is already producing over 10k barrels a day. Hope is still there.
When the SP hit the giddy heights of 0.12p somebody posted that he expected that the SP would return to it's regular 0.6p and unfortunately he was right. . It is a sort of financial trap. Clever people see a spike, jump ship and buy twice as many a few weeks later. UKOG is a stock that could be transformed overnight with some startling news from Turkey and I don't want to miss out on that. Very annoying, but I don't have the courage to day trade. However on the plus side, with the amount of sales/buys ratio reported today, I am surprised that the SP has held where it is ?
I have been watching Edgon for a while but never got round to investing. However I have been in this situation before with Bacanora. They accepted a cash offer of 67p despite sitting on one of the biggest Lithium deposits in the World and the shares having been 155p at one time. Is it because they can overnight realise all their assets and retire millionaires? No more hassle or worries? Never mind about the LTHs
The RNS s always mention the close proximity to East Sadak. Read this from Aladdin Middle East oil company.
Oil discoveries
With the Oymantepe East Sadak oil field also marking the lightest crude oil discovered to date in Turkey, Cem is optimistic that the discovery will help enhance several prospects located in the Southeast and the North of the country. He adds: “While the SE Anatolian Basin – part of the Arabian plate – has been developed successfully and is currently producing from a number of fields of different size, the area in between these fields has been almost completely ignored. In an attempt to change that, our exploration efforts focus primarily on these very structures, as we believe that they have significant hydrocarbon potential. The Oymantepe East Sadak discovery is on trend with the oil discoveries of Tawke and other major oil fields in Iraq, such as the Kirkuk oil field, and is expected to add to the significant resource base already discovered.” If they are right and UKOG are in the middle of a major oilfield, I will be putting my Ferrari on order!
The buy/sell ratio today is almost even, so there is no reason for the SP to fall unless in yesterday's big trades, the MMs have gone short and are now cleaning up for their Caribbean holidays.? sorry to be so cynical but when I was a dealer in the old LSE in the 70's , with the trades today the SP would have maintained yesterday's close.
Can anybody suggest what is happening with WSBN. I have never known such a quiet stock. Nobody trading, HG unable to get an up to date quote. Every day IG shows a 5.45% rise when unfact they haven't moved ? Im heavily into this one and wish I wasn't,
Must be a former holding. I Invested in everything that Cadence were invested in on the basis that they must have done their due diligence ! BCN, EMH, MacArthur mins, and Horizon. One thing I have noticed is that they never announce when they have disposed of a holding. They expect shareholders to researcht their projects and holdings. Been in this for yonks. Hoping that Amapa turns it all round.
Just announced Taylor Wimpy to build 8000 homes to make up several villages in South East Herts. Local councils have already passed permission for a new road bridge over the River Stort to link up with the villages. I opposed it but if you can't beat them join them. So I'm now an investor. DYOR