for me after the announcement i was a bit dissapointed.
not at the project i think the project is a great high risk/high reward play, but I hoped for a rerate into the 2's on this news but instead i reckon people decided they didnt want to wait 3-5 months and bailed. understandable i guess in this market, also I am guessing there are question marks overs the ability to raise the 9 mill needed but I agree with @msj8777, in that they would already be doing a deal on this, but as this is the asx until it actually happens , it hasnt happened and the market behaves accordingly
Have a look at the Napoleon presentation and where the target lies within the Permit area, it looks pretty cool, but hey until you drill it you never will know and a dry well will certainly hurt tmk's cash and shareprice...
However i am certain that there will be a kick in the sharepirce prior to drilling with the fomo (risk reward etc) we may also get a kick when we get the 3d seismic report next month, and the Hydrocarbon charge study probably a little later....
I think buying at these levels will give ample opportunity to take some profit leading up to the drilling if you feel a little uncomfortable letting it all ride on the drill, remembering target is 4500m! i am unsure what i will do, ie sell some prior/during the drill or let it all ride... I actually my try find out more about the area and jv partners etc, it could prove very important
good luck whatever you guys decide to do
TMK Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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