By way of a little moderation on these rather one eyed strings of posts lately, you will note that despite a lot apparently happening at the corporate level not much value is actually being created for shareholders who have suffered through little more than range trading for almost eight months now.
The reasons why include;
Two big and juicy placements by the big bank advising, two sell-downs to shore up New Standard's positively bloated balance sheet, a rig catastrophe as the drill target proved to be lower than prognosis at Ungani North, an almighty row brewing with the Aboriginals over abusing a sacred site and promptly preventing the shooting of 3d seismic at Ungani proceeding, and another with the Greens over fracking technology building for the future, and finally disputes heading for the courts with both European Gas, the royalty holder over the most prospective land, and with Rey Resources, the JV partner of the recent acquisition.
I'd rather not think what the share price might be if the recent wave of positive corporate announcements had not stemmed the ebb of the market lower.
What the market needs is positive results on the ground and so hopefully Ungani North will put an end to this period of consolidation. Over to the drill bit then, the only commentator really worth following.
BRU Price at posting:
$2.77 Sentiment: LT Buy Disclosure: Held
