Forget the company for 6 months? That's what you do to medium-large companies that have a decent dividend yield... they quietly plug along while you get a nice return on your investment and, if management are doing their job right, increase in capital value over time.
Now cast your eyes over the CTP 10 year SP graph. Excluding the SoA speculation, the SP has been sitting around 15c for 4-1/2 years! Before that it was generally in a range of between 20 cents & $1.17 (equivalent).
Now cast your eyes over most energy sector stocks of the past 3 years, and most are up, some quite significantly.
CTP is a small cap spec stock. Yes, we have de-risked substantially in the past 2-4 years, and have gone from a pure exploration play to an E&P player, however the SP has not reflected this. I agree that management aren't fully responsible for the SP, but the board is, and that is what this discussion thread is about.
Spec stocks appreciate in value when a (believable) prize can be seen. Either CTP aren't showing that prize, or aren't selling the message well if they have one.
Oh, and here's a fun fact, our Top 20 shareholdings have dropped from 40% in Sep-2017 to our current 28%. It didn't happen in one foul swoop, it has gradually been decreasing each month as those with a decent investment have grown tired of waiting.
I agree Leon appears to have done a good job sorting out the mess (and lies) he inherited. But if Dukas or something else doesn't give the SP a decent shot in the arm very soon, don't be surprised if the large holders send (another) very direct message at the AGM...
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