Folks,
It seems that some holders have made their minds up about waiting for a PSA turnaround ....
I have not ...
The PSA share price still appears to be atleast 20% less than the cash balance
Cash Balance US$19 mil / .75 = AUD$25.3 mil
Share Price AUD$.085 x 234.6 mil shares = AUD$20 mil
AND the company has no debt and has producing wells ...
I guess some holders are concerned about how the existing monies are being spent and that's making them nervous and the lack of drilling success only serves to amplify people's concerns .... Like all holders ... I'm not happy with the lack of drill success and I hope we are learning from these setbacks ...
The opera is definitely not over on Hummer and other MENA initiatives and it is very interesting to see a new team member has been appointed to support the business investor relations portfolio ... It will be interesting to see what contributions Manny can make to the company's forward plans ...
In any event ... everyone makes their own choice in these matters ...
IMHO PSA's drop in share price serves to be an opportunity to pick up some spec stocks at very good prices ...
PeterRG
PSA on a "Slide" ???
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