B2
From a oilspec market strategy perspective CVN is looking like a buy with a 3 to 6 month view.
I believe they are conducting another drill program mid this year? I am not sure of timing.
I believe the current price of 4 cents is the base of a consolidation zone and it is unlikely to head too much lower. Pre the last drill program they ran to 6 cents. That is 50% above the current price.
There is reasonable probability they will run to at least 5 cents and above as the new drill campaign approaches, particularly if they sprout on about the new exploration potential they will drill. I see a 25% low risk trade here as a minimum.
Irrespective of past disappointments and lower than predicted cashflows, there is nealry always a pre-drill program speculative bubble for us to ride on.
The only caveat I place is whether CVN will have to raise cash. That needs to be checked. Placements always dampen the pre-drill speculative price action.
I cant say whether I will buy CVN or not, but I do think are they starting to look like a low risk investment.
But maybe your charts dont tell you this???
acturtle
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Last
16.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $295.1M |
Open | High | Low | Value | Volume |
16.5¢ | 16.5¢ | 16.3¢ | $887.4K | 5.384M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 286883 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 40386 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 286883 | 0.160 |
13 | 529599 | 0.155 |
17 | 1265052 | 0.150 |
17 | 745185 | 0.145 |
10 | 442777 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 40386 | 1 |
0.170 | 534963 | 10 |
0.175 | 1047347 | 8 |
0.180 | 501225 | 8 |
0.185 | 119057 | 4 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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