Commodities is soaring in September and yet commodity stocks is not trending in line with commodity stocks. Thus, speculative money is not into equities but into commodities (hard assets).
The latest financials from $$N (30 June 2010) is revealing and profit is made from tax credit only. The ongoing development of exisiting acreage is continuing to be cashflow positive and with cash on hand, undervalued assets is under the radar of TB and company for acquisition.
I congratulate all (shareholders) who made more than 100% return from SPP and please don't hesitate to take the profit from the table. I am in this asset since 1.2c and on free carry and seeing only upside potentials. However I am not a trader and thus could not see alternative business that provides the same opporttunities with manageable risks. The targets until Q2 of 2011 has been put on the table however with CHK in play with SSN, IMO, the developments of sold acreage with royalties is another cash positive.
I can wait, put my feet up and let the $$N boys have their FUN (oil and gas exploratiion and production). Awaiting for another opportunity to accumulate based on the results of short term plays from ST/DT.
Cheers!!!
'Do not use shor-term trading strategies on long-term investments.'
SSN Price at posting:
6.9¢ Sentiment: LT Buy Disclosure: Held
