As I Mentioned yesterday that I wont be able to attend the presentation today but have asked David Leslie (private client adviser at Bell Potter) to provide feedback and comments. I just now got back to my PC and here is what he told me about 10 minutes back.
1. The company has enough funds till end September 2005 (after the SPP which was taken up by overseas and Sydney private players). 2. David was shown the mud logs from the various wells and he says these are as good as he has seen so far 3. One of the operators working on the drill rig reckons that he has never seen these high indications on mud logs before (has been in business for 40 years) 4. Testing is going on and it will take at least 3 to 6 weeks for the results to be released to the market 5. Tony Kain came across as a straight shooter and not a B/S 6. Tony’s family has got significant holdings in the shares 7. According to David’s estimate, the stock is worth at least 12 to 15 cents 8. David will be recommending the stock to his institutional clients in the next few weeks 9. David’s advice to me was to buy more (if my funds and risk allow) under 4 cents. 10. David’s view is that Nuenco will either be producing by September or will be taken over by some other company.
NEO Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
