Whilst I agree it's highly unlikely to become a tenbagger in the next year or two, let's not forget recent history please. In '09 the world was similarly coming to an end and everyone's imminent destruction was at hand. I purchased on death's doorstep and received well over a tenbagger in 3 years in return (~1400%)
The situation is of course different with the overhang you mention and the early exploration pop and market rebound out of the way. The heaviest drilling in the Canning tends to happen July/August/September. I'm not concerned yet although ideally seismic would be happening right now. They might front load the Acacia drills which could get interesting (though risky). I will be buying more in July if it is at these levels (I'm assuming there is forward momentum in 2 months). It really comes down to luck at the drill bit and how many drills they manage. It's not unreasonable at all to expect a double bagger from here on some good success and possibly even again next year if there are any subsequent good successes. Just depends on targets hit and target size. Have to wait for the drill plan to see what's on the schedule. (Not that I'm saying it's likely to hit $6.40 in two years mind you, just that it's eminently possible, which is inarguable with 100's of mmbbl in targets to be drilled)
Happy to see the price action over the last few days. We've absorbed a massive blow to the market pretty well. We might have at least reached a temporary rest at around this level, (most likely due to shock induced price apathy!). Will be interesting to see what it would take to grind it lower. Hopefully we see some forward momentum and we don't have to worry about that ;)
BRU Price at posting:
$1.60 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)