I'd imagine it's mostly frustration.
If you take time out of the equation NEO has just had good news after good news from its drilling - the problem has been the gaps between drilling and zero testing. I am sure it has been more ecconomical to do it this way and I'll bet salty is right about the cashflow within 3 months - in fact I still reckon NEO is odds on for 10-15c minimum but I have still reduced my position to what I would now call small - I still watch pretty closely and may come back in but probably in the heads. Long termers who got options under 1c can sit pretty but my average anded up just under 2c and if I was wrong the time decay would have killed me. I can't have had my battles with the Analyser about the value of the oppies and then not heed my own words!
The biggest struggle NEO faces is the composition of the holders of the heads - we have all seen that the oppies performed stellarly and that was because they were so tightly held - recently the top 20 held about 56% where is the heads the top 20 don't even control 19%.
Test results will either sink it (I doubt that very much) or fix this problem as insto's will take the top 20 in the heads to 40-50% IMHO.
As I expect the next wave of demand to be in the heads I will probably join that group if I wade back into NEO - don't get me wrong - the oppies will at least match the heads in %age terms and after 10c they out perform again.
I still hold small oppies so come ON NEO get goin!
As an aside I want to flog my view that I think mining and commodities are in a turn phase - the performance and failure of many mining stocks has got me worried and my target for oil to peak was $62 some may recall (of course NEO was supposed to be gushing by now and trading 30c and I was going to sell all and sit on my boat) so it is all getting too close to the end for me.
The next sector to run will be biotechs but most are still falling knives so be careful if you agree. There are some absolute gems out there though and some have definately shown signs of being accumulated for a turn around.
NEO
nuenco nl
