it seems that the update will be very positive, given the normally very conservative board came out last week and doubled their expected forecast reserves.
With the volatilit in the market we will see some wild swings (particulalry given its run), however, I am convinced this stock is worth $2+ and ased upon recent deals, I think we could safely place a value of at least $1.60 on current 3P reserves.
There is absolutely no doubt in my mind that ESG will be taken over within the next 12 mnths. Hopefully we get a bidding war, or ESG are able to do a QGC and get themselves out of it.
Good to see the wave of selling was met with some strong buying in the afternoon. SHould see a very good day on Monday.
I did wonder whether some selling occurred to meet margin loans on other stocks. Obviously been some large hits on the bigger stocks in the market over the week.
ESG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
