I decided to get out last week, maybe only for a while though. They seem to have a lot of bad luck...first drill campaign with a rig that was too small, then got rained off recently. The holes they did drill were complete duds unfortunately.
On a more positive note they seem to run a pretty lean operation, but the bank account must be getting down to the $1m mark by now, so a cap raise is getting close. Lots of territory to explore makes it tempting and there are some other investors with deep pockets on the register besides Lion which is a positive (but I am not sure they know any more than me or you ha-ha).
The market cap is at shell value which is a bit ridiculous.
Not sure when the next drilling campaign will be, but I will keep watching while it is so cheap.
Add to My Watchlist
What is My Watchlist?
