hot copper tip

Welcome to correct me on any of this.

It was not a hot copper tip, but rather an advertisement on the hot copper page suggest this was the stock of the year or similar.

I think it was around Dec '12. The price was around 17 cents - by memory.

Had the sp got to 20 cents by 31 Dec '12 there was some sort of underwriting with options and $14 million would be raised.

The sp was less than 20 cents, so the options expired.

So this is just a marketing exercise. Who ever made the recommendation should loose all creditably. So just thinking allow it is ashamed the sp did not get to 20 cents as the extra $14 million would have been handy and either at the underwriters expense or presumably those investor buying in at that stage.

I hope there is good news on the oil discovery front in the coming 6 weeks, but in case there is not good news, it's back to cap raising.

Having got smashed on a similar oil expo ration company with a negative result also in Tunsia last year, I'm convinced it's best to buy in only on positive drilling oil results. I remembered last year I analysed heaps of oil drilling results and maybe it is 1 in 10 that are positive.

So basically oil exploration company rely on a positive air of confidence just to raise capital. The brokers etc write up their research paper sucking in investors. Even my old broker once said he is skeptical on oil, and now I think i understand why. I just thought he was chicken shit, but there us more to it.

As mentioned you are welcome to educate me with your responses.