Previous holder and bailed out about 9 months ago after a few years holding this stock , nothing seems to come to fruition to date and the board / management seems unable to untangle the mess they are in, fair to say not all were from their own doing.
In this game, apart from luck / right timing you also need courage and astute (decisive) decision making to move thing forward.
They don't seems to be in the hurry to change the business strategy, who would blame them - happily chewing the big cash pot for many, many years to come.
I reckon they should suspend the Brazil venture (until such time the market conditions improved and all the court case resolved), with the cash in hand, there are plenty of opportunities and prospects (few notable under funded O & G juniors that can be acquired for a song) - some are in ready to drill stage in Bass Strait and WA Coast to take advantage of impending gas shortage in Australia - have a go may come good and make a fortune with very small outlay.
A change of business strategy definitely need to happen, relying on Brazil seems doom and will string out for many more years.
Good luck to all the die hard and long term holders, hope something decisive happen soon.
Previous holder and bailed out about 9 months ago after a few...
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Last
$1.72 |
Change
0.060(3.61%) |
Mkt cap ! $1.378B | |||
| Open | High | Low | Value | Volume |
| $1.67 | $1.73 | $1.67 | $18.60M | 10.89M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 48682 | $1.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.73 | 130076 | 5 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| KAR (ASX) Chart |