While I bought TEX for fundamental reasons - i.e. very good hit rate so far, with cash in bank and flow close to SP, I am now liking it technically as well.
There has been a long period leading up to a spike which has retraced the normal 50%. It is now forming a nice base and with six drills before end of year, if they get any one of them right, the SP should show a nice gain. So far they have been successful 3 out of 4 drills. They also farm out to Everest, big player in U.S as well as having access to infrastructure, meaning that they can just plug into the pipelines.
On a risk return basis, it looks like a good bet.
TEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
