Sellers are thin on the ground at the moment. Anyway, who would really want to sell at these prices unless they bought at 60c or so? Even then it would be premature to sell to make a mere 20c a share. We know the downside risk is very low, probably limited to a 60c share price and the upside potential can be counted in dollars. From a purely betting point of view it makes a good punt.
I know of one new buyer who has entered the market for CRK shares and she will do very well buying below a dollar. She will certainly have a lower average than I do (although my average is coming down)!
If Frank chooses to make an announcement about now he will push the share price above a dollar quite quickly I would imagine. Some will be kicking themselves for not buying below that.
We may be at the beginning of that long awaited recovery. I note that other shares I used to hold are also making recoveries, except those with fundamental problems which may never recover. ROG is an example. Luckily I sold out at 10c. They're down to half a cent and may never recover. My others like GDY which have very bright prospects are coming back.
It seems to me that some normality is coming back to valuations. Then we have to work out what we think to be "normal" valuations in the current market for shares like CRK with extraordinary prospects. In my view it is a heck of a lot more than 82c. Time will tell.
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