Hi Gerkin,
Glad to hear you're still kickin'
This stock has a history of looking dead and bouncing back into the stratosphere...........I must admit to wondering whether it can bounce back this time. The biggest hurdle seems to be that they have a lot less cash than they need for the redemption of the convertible notes that fall due next year.......and of course to drill all the prospects they have. So whatever happens with JHF-1, can they ramp-up the cashflow from Scott, Harrison, Garcitas and West Wharton to overcome this? I sure hope so!
I remember a few years ago they offered some options to AYO shareholders AYOO..............at the time it had fleas and I through the offer into the bin and said "I'm not throwing good money after bad"........the options went from 2c to 90c! (one of my friends took them up and turned $200 into $10,000)
You never know what's next with this stock.........you just need to accept the risks associated with this unpredictibility!
I'm not selling any (I only have a fraction of the shares you do).
The thing is, they have a ton of prospects out there. They need to focus on production now so they can produce the cashflow they need to drill them.
Long live AZZ!
Remind me to sell next time it gets to $1!
Take care,
Whippet
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