RE:RE:amazing resultsI agree that those results look fantastic. Couple of possible reasons why the market hasn't reacted much, yet:
- In my experience, the market often doesn't give value until the data is presented on a plate, i.e. until the official resource statement is released.
- Bear in mind that EDV is now already a pretty substantial mid-tier producer (valued on production & cashflow), so the question investors will have is: will this have a material impact on production and/or cashflow in the foreseeable future? Not an easy question to answer.
Personally, I'm happy to take a long-term view. IMO EDV may well have enough promising explo. acreage to be able to move into the ranks of the majors without making further acquisitions.
Unlike juniors, it also has the financial resources to be able to prove up the acreage without needing to raise more capital. If it proves up enough, it can only be a matter of time before a major "makes us an offer we can't refuse" - and I doubt Naguib Sawiris (who call the shots with his massive shareholding) will let his shares go too cheaply. ;0)
Cheers,
Mark