Hey bigbaby, how long have you been in the stock? I've been in since 2010 and believe me, through that time my patience has been tested on numerous occasions. However, right now is not one of those occasions. That is because current operations, the forward development plan, current financials and the forward financing plan are all looking solid. Sure, the share price has been in a holding pattern for a little while, but that's just because the market is waiting for confirmation of results from recent drilling operations.
These things happen in waves. We had a good wave of production increases earlier this year but the sentiment it generated was deflated by a capital raising. We are on the cusp of the next wave of ramping up production, this time we will not be deflated by a raising. To the contrary, when considerring the forward plan and the number of things going on at the moment, this wave should be the springboard to kickstart a long term turnaround.
Regarding "the $1 party", I think this is a bit of a tongue-in-cheek-throw-back to discussions a few years ago. Believe it or not, but there was a time when sentiment frenzy had people (me included, I'm embarrassed to say) that SSN could hit $1 on the ASX, not NYSE (that's right, 50 times the current share price). While such suggestions would be fanciful now, the spring is tight and ready to unwind. How far it goes is anyone's guess, but I believe 6c by year end is realistic based on the forward plan as it stands.
SSN Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
