These shares often have big retracements, that's the game. What we are seeing and I have said this a few times recently, we are seeing a change in guard on the share register, these huge volumes are not mums and dads. Contrary to what people think insto's do not pay any price, they use HFT and good old tricks to get in at a lower price to pry shares out of weaker hands. They will attempt to obtain an initial core holding at lower levels. Don't forget that we don't need to go to market for a while so this becomes one of the last opportunities to buy it on the cheap. JV's first confirmed this even more so. OIP results are price movers not JV's.
I see 3d results coming out with good upgrade of OIP figures, followed by further work on new zones and huge numbers on Zeus. This will become multi billion barrel potential for the company. As for other tenements in Africa, they will come, we got a bit extra cash than expected in my view, so read into that how you like.
Right now and just as you did, I will go out on a limb and say this, and you can believe this or not, the company is brokering support for the company with insto's that are willing to back the company for the long haul and have the means and opportunity to provide significant development funding when necessary going forward.
Shoot me down in 3 months at the AGM, if the share register has not seen significant new investors in the top 10 by then becuas eI will be there.
TPT Price at posting:
35.0¢ Sentiment: ST Buy Disclosure: Held
