One can only speculate as to where the increase in volume is coming from. 3c in the short term looks likely if current buying activity is anything to go by.
The only certainty at this stage of the transformation from O&G exploration specy to LIC specy is ,as at 30 June 2015, the company had net assets of $18,995,490 and cash assets of $19,219,188 with 529,66,883 shares on issue.
Bearing in mind directors have a fiduciary duty to act in the best interests of its shareholders, one hopes the capital will deployed in a such a way as to maximise shareholder return going forward (as, IMHO, did previous management who unfortunately significantly miscalculated the risks/cost over runs).
NEN Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
