The announced activity might get it to the 10c hurdle.
I don't think its going to be U. Ascent looks at the stock market as a market for capital (which it is of course) and thinks in a "marketing" perspective. Whilst PDN remains under pressure (GSJBWere issued a "conviction sell" tag this week, but it seems to be holding up anyway), and given how crowded the U exploration sector is, I think they might be looking for the "next big thing" in the market.
To my mind, with world wide interest rates on the rise and inflation fears acting as the next big market hurdle, in the spec mining sector their will be a return to the fashionability of base metals explorer/developers (look at PNAs perfomance recently) or precious metals (inflation hedges becoming stronger, making uneconomical deposits economic, hence my favouring CGT at the moment).
The other area is oil, which will hit new highs later this year, but this is more difficult because there aren't big known areas of oil that will become economic by virtue of price rises, and this seems to be Ascent's forte.
My confidence that they are looking for something better is driven by the fact that they are taking so much time over it. And unlike TDR, I don't think they will announce until they actually have a tenement in hand.
All this is deduced, and of course is speculative.
Add to My Watchlist
What is My Watchlist?