Well Mrs and some friends who hold heaps sadly haven't got it right and on huge losses. Most are around the 3.5c and unlikely to BE again imo, well not in next 1-2 yrs imo… So discussing an exit plan.
I don't regularly trade despite what some think! I wait for SP to go low few months prior to drilling and buy (bought a heap at 1.2c), most of time it has worked. My calls have incited some criticism but each time hit the low SP I suggested, more ass than class... Good at picking the lows not the highs, never as optimistic as the pumpers predictions 10c, 20c, 30c $1 etc etc fantasy land along with fairies...like this latest 88 announcement imo... Maybe only 2-4 trades a year. Sell chunks leading to results and when drilling doesn't look good. Like last year sold 75% of holding and diversified during Winx, which was lucky. Currently in the Red like every holder, except those new who bought recently, they will 100-400% on money easily next year or so imo...
After reading that announcement stating 4 zones bought a top up of 1.5mil 2/3 days before the 7 day announcement as I obviously read that it was looking good, obviously a bad call and got caught, like most of us. Should have know better never to believe any 88 announcements especially when drilling lol..
My holdings average is around 1.5c so have not sold any and will keep until more spin and hopefully Yukon FO comes and SP hits 1.2-1.5c (lol might join the pumpers club and not comment what I think in future) lol, then sell out then assess again when CR/Consolidation/new board etc etc. No rush to sell though as diversified into 5 other O/G stocks in mid march when Global market collapsed, even got ridiculed here for saying this, lol.. Well it worked and absorbed 88 losses well and truly, happy to be ridiculed...Else would be still crying lol...
One could average down further and buy at these low prices as the bottom was around 0.005c imo but I wont as furious and absolutely have no confidence in this company, plus over all these bad, really bad inconsistent communications. How can every well drilled say yes, no, yes , no oil when using live data recording equipment. How can they consistently get this critical information continually so wrong??? How can they drill in wrong spots etc etc… 88 sounds more like a political party with their communications imo...
I personally want to exit (cheers from the background, lol) however I am a serious supporter of spilling the board as after 4-5 yrs of failure, accountability has to be realised. Furious again they paid themselves those over the top bonuses. Anyway over 88 for the minute and best to focus on other things. Good luck mate that's my position today, ok....
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