Beyond a Joke, page-28

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Trigger26

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21/09/22

22:42

Post #: 63825588
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Originally posted by MetalBee: ↑

"88E pumps"? Could you have picked a bigger meme stock on the ASX for your comparison? Firstly, 88E does not "pump". It hat its' moment in the sun for 3 main reasons:

1, Management are about as unscrupulous as it comes, they are crooks. They will say and do whatever it takes to pump the price to feed another cap raise.

2. It is traded in Australia, UK and the US, meaning it is in a triangle of trading which leaves it open to huge opportunity for manipulation: Look, 88E was up 10% in the US overnight, it's going to "pump" today. Look, 88E was up 15% in Australia overnight, it's going to "pump" today, etc., etc.

3. It is adjacent to Pantheon resources, which is sitting on arguably the most significant US oil discovery in the last decade; and fools who don't understand the difference between the two assets buy the story. Pantheon is a legitimate investment opportunity and currently flow testing their first horizontal production well on an asset over 23 billion barrels of Oil in Place, 100% owned and operated on state land, with unique adjacency to infrastructure, both road and pipeline. 88E is little more than a "me too" company to suck people in. It works.

Please don't come in here putting up 88E as some sort of shining example of what could be, despite their immense SOI. Contrary to your opinion of SOI being an issue or not, as soon as just one person identifies it as such, then it is, the magnitude of that problem is then determined by the market, and having been a holder for years here, I assure you it is quite a problem for many. It is a barrier for entry by retail, sophisticated, and institutional investors alike. In fact, when doing my own due dilligence on the stock it was the only red flag I could find at the time, and probably remains so. But it is now undeniably the elephant in the room.

5 year chart of 88E attached with demonstrable aenemic volume with intermittent volume spikes, and a huge loss in the share price.

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Hi mate
My thoughts are we need to prove up strong reserves and grades bringing us up to 50K ounces before we attempt it ( consolidation/buyback ).
This would show a well managed business with plenty of up side.
Self funded exploration ect. and making a healthy profit to pay us a wage for being part of this company with the ability to fund acquisitions .
Really, if we attempt it with unknown reserves and with financials as reported, the price will fall
We have built a tailing pond with capability to carry us for 10 years production into the future ( this does include existing of coarse) .
We are patient and shrewd company where it comes to paying for over priced land and in these times we might just see a real good bargain
When we do the above 10 to 1 would be great .
I believe there is a lot in this, but again just my thoughts .
I'm happy where we sit at the moment

BCN Price at posting: 2.4¢ Sentiment: Hold Disclosure: Held
6 Upvote

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