I bought them to make money. I don't care what the inherent, hidden or latent value of the shares is. I don't care about their theoretical value.
This is a company that pays no dividends. Its only use to me or any other investor is the price the shares can be sold for. AMU has been in long term decline.
Despite much wishful thinking there is no reason to think the long term trend will change. There is no point being patient, this will only extend the loss. The model of Australian companies beating the yanks in their own oilfields is flawed.
The natural owners of American oil fields are Americans. The fields are currently on open sale to the best bidder. The market will set the price and AMU should accept it.
AMU is in wind up mode for good reason. If the board didn't accept the best offer for the fields the share price would plummet.
Wind this dog up.
Bacci
AMU Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)