I've been trying to figure out why such a muted response to two...

I've been trying to figure out why such a muted response to two terrific announcements.
1. Genel Somaliland farm in
2. the underwriting.

I believe the Genel JV was known beforehand (by a few) and explains the sharp rise from 15c from 12 Oct. Buy the rumour sell the fact scenario. The other point to make re Somaliland is that as yet there is no target. If the seismic throws up a 500mmbbls target then the sp will move up smartly. (look at PVD in Morocco with all their indicators and sp movement)

The $10m underwriting was a smart bit of capital management by JKA. for $600k (the underwiting fee) they have locked in the crucial funding for Hammermet and Aje and a bit more.

I dont think that some appreciate that the underwriter may not even be needed in which case there will not be many 35c options issued. As there are a number of catalysts for a sustained rise over 20c prior to end Dec.

1. the multiple broker reports that put a target price on JKA of around 50c
2. The expected December upgrade of Aje resource
3. a Tanzania signing which I note is still very much "expected shortly" This is purely blue sky atm.
4. surely investors will realise that all boxes are ticked for JKA and the penny will drop soon.

Pick Mag 27/9/12 (no price)
DJ carmichael 18/10/12, 12/11/12, 22/11/12 $.57
Patersons 13/11/12 $.42
Stella 14/11/12 $1.15
GMP securities $.52

Anyway I have a small house on this.
GLTA