Strauss. That's exactly what I reckon is the "attraction" of ICN at the moment.
Everyone thinks that they aren't doing anything and just cruising around on leisure boats enjoying the benefits of their not so modest salaries and we see where their SP has drifted down to as a result
.
I really reckon that's what's going to surprise, maybe shock, everyone when they announce what they have been doing. True.
Ray James is not getting younger, he still has strong dreams to not leave until he is producing a solid income stream for his company and remember, he has 24 million shares to multiply by the SP to retire on!! I don't think he would be retiring until he gets that production and certainly not when the multiplier starts with a single 3.
Sure, there's absolutely no science in that, but, I've been with ICN for most of those 20 years and it's my strong belief that Ray James is still a very disappointed and unfulfilled professional Geologist and M.D. of a company in which he has seen so many ups and downs. But, his absolute holy grail is APT855.
The POO disaster just when his dream was about to be fulfilled could not have come at a worse time and could have been the last straw. But, it wasn't and he perseveres.
APT is apparently highly prospective for oil and he really only needs a modest result to go along way to covering those overheads that are burning up the cash.
So, I'm happy to see what's in APT594 while being very comfortable with what's in APT855 and pretty sure that "something" is being done to bring it back on track.
2.2 million shares purchased in the last month by those Nominee companies also raises an eyebrow.
But, sorry, unable to provide anything substantive and will leave that up to Ray James to do.
ICN Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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