There is no hurry guys.
This share is not a speculative stock to be held for a few days. But surely and steady it will increase in value.
The rights issue will be fully subscribed because most shareholders (if not all) are in the money and are more than happy to put more money into the company.
The share price will probably wander for a while until post 07/09/06. After that it should take off as news from the accelerated exploration program flows in.
The PNG pipeline is not likely to eventuate (one major competitor down). The high infrastructure costs required means that investors and lenders need stability of government in PNG. This is not likely to happen based on past events.
One thing i like about the board of directors is that they dont over pay themselves. Most listed companies (exploration companies in particular) of way smaller scale pay their directors much much more.
Management consistently over deliver and directors' interest are aligned with the company as all hold substantial shares in the company.
Be glad that rampers are not on board. Accumulate on weakness and this investment will reward you in the future.
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