Look at profit's post warrior 8 thumbs up!!! And it will climb.
Come on - you got your new nickname from Norbeto to Cato - cos you were like the guy who hid behind the door then jumped out with 10 posts in 5 minutes - went quiet and then all happened again but with 20 post all in a row.
Some hard top decipher but the general thrust was always apparent - whichever way it was at the time... I can only say that after digesting a few of your posts along the way i got an appreciation of how you saw things and my myopic thoughts were finally broadened -
All over the place like a mad women's excrement - that Latin blood pumping ... the highest of highs and the lowest of lows.
The say the 4 stages of grief are DENIAL followed by DEPRESSION then ANGER and finally ACCEPTANCE .... i think this resonates with most of us ...lookandsee implores us to look at it as an investment thesis now - as do lots of new fresh posters which is quite correct.
I think it is their time now to deduce KAR in it's format today.
My thoughts have been stated this isn't KAR we invested in. Browse will now be sold and KAR will head to Brazil - pay long suffering holders a dividend ( although my mooted .50c - $1 may be high )and turn it all around - but I will no longer support Management and i would assume neither will big players when the time is right - they haven't supported shareholders or been able to do a twiggy and as FMG gets smashed by shorters he stands on the brig and says F- YOU and buys more.
That is unfair on KAR Directors as they probably aren't in a position to do do but their inability to get others on their behalf to do this is symptomatic of the way KAR is perceived.
Shak was right read Motley Fools excrement - but heh that is the over riding Market Sentiment and if you can't change that - you either don't have the wherewithal as a Management Team or you simply have over sold the asset base.
Some have said - they can't prove any asset value - different time different place i grant you however the P-90 3 TCF has been the same for 5 years and we recently added a measly 73 MBOE in Brazil and we have been as high as 12 and as low as now - a cycle ?
Others have stated generalities of markets now to the GFC - we are obviously in a more sinister phase the outcome seems inevitable that LTH will never recoup , there if's what's and maybe's are now gone and it's for the lookansee investors now...fresh to the market.
After the AGM I had cause to chat with a person - the SP was sinking ever more and he stated - "you wouldn't sell at $8 it is worth miles more than that per share.." i hope he has some understanding now as he felt he was 'ambushed' by my vitriol at that moment.
Again as Buffet states with a class 1 share in Berkshire Hathaway today is undervalued compared to current market price - if that is the case for Berkshire how do we ever figure a disconnect in KAR's value and SP would ever be any different - those with the Gold tell you what your worth - not some intrinsic value of assets added together then subtract or add a % of that value.
KAR's Management made a fatal ego driven decision to drill Grace alone - they can come up with whatever excuse they like and here are some 1) we are an exploration Co that is what we do 2) we need to drill to retain the permit etc etc etc..... AGAIN do we know any other Company ( mid tier) that drilled a 100 million wildcat on their own IN THE WORLD? That is the question the rationale behind it is totally irrelevant -
Grace 100% and not once were we informed this would be the case etc ... it is their private fiefdom as often pointed out along the way very recently.
Again - i followed others and not myself - safe in the knowledge that they new more- had ear to the ground etc... they got sold the same pup - Why did i think KAR was different to the others ( Publicly Listed Company)
I have now reached stage 4 - ACCEPTANCE ... it is done and duster ostensibly - the veneer that goes over it will be a TO or back to $5
KAR Price at posting:
$2.42 Sentiment: None Disclosure: Held
(20min delay)