From what is saw briefly earlier today there seemed to be a bit of capping on the sell side.
Given drilling is likely to be 7-8 short months away I have been wondering a couple of things.
1. If it go it alone when will they cash up for drilling?
My understanding is the company would need the funds in the bank before they could issue a contract to a driller ergo I think prior to Christmas they will raise and this might be why we seem to have had a lid placed on the sp. Those pesky insto's know all the tricks.....and use them.
2. Anyone who wants to grab a decent position will have to do so in the next 3 months IMO as seismic will likely add to the resource number and a go it alone fully funded should see the roof lifted off IMO.
3. LSA AIM listing. The other co I looked at it took about 3 months but as I posted it could be expedited if they are not doing it as part of a raise so could be 2 months or less.
I guess my point is if you were going to accumulate a decent position time is running out and we have a bit of a news vacuum atm with the farm out being terminated seem like the perfect opportunity.
I have some dry powder I am planning to wait for the raise, my fingers are crossed for a rights issue, but if the price drifts lower I might be tempted.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 130000 | 0.074 |
3 | 84432 | 0.072 |
3 | 89050 | 0.071 |
4 | 383942 | 0.070 |
Price($) | Vol. | No. |
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0.077 | 23586 | 2 |
0.078 | 115267 | 1 |
0.080 | 94368 | 4 |
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