Hold for the long termAlthough it's great to see some positive response to the drilling results, this stock should be held for the long term. As I read the posts of the day traders looking for a quick buck, I don't feel any sympathy for their frenzied buying and selling and sweating over penny price movements. This stock price of this company is at historic lows because of its position in the business cycle. Although it has great prospects, it is not yet creating positive cash flow and in fact is burning cash at its highest rate ever. Look for meaningful price appreciation when the Australian properties which are closest to production, start adding some cash to the balance sheet and finance more
infill exploration in The arctic and Argentina.
This is a well managed company which is trying its best to self finance which in the long run will pay of big time for patient shareholders. Stock can still be purchased on the markets for less than the price paid by the last two privated placees. Keep in mind that we are having a record trading day (over 1500k shares to this point), but that only represents about 600k Dollars. The story is still not out yet and the insiders are holding tight. Let the day traders miss the forest for the trees.