IMO it seems silly to sell now, unless you are wanting to formalise tax losses. Cornhill are in this to make money. They will have 65million shares at 2c and the potential for this to double to 130 million shares at 2c if JKA trades at 4c for 4 consecutive weeks. They will also after funding capex is paid off have a long term O&G business with short term significant exploration upside. They will also have significant exposure to JKA's upside with Tanzania and JKA SP should the price of oil continue its upward movements. Their only risk really is cost overrun and I assume the O&G people on their board have done there homework on this. Where does that leave us all? Treading water until Cornhill decide to push the SP up to 4c or the BOD can get out of the office and, as they used to do, get more projects with big upside and minimal entry cost.
JKA Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
