RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Wow bids not even reaching marketI definately agree with you on the retail side, resource plays, certainly in the discovery phase are primarily retail driven in Canada, the Canadian institutions coming in later with funding after the play is derisked somewhat.
That has huge advantages to the retail investor who can act very quickly on news. No question a Canadian retail investor would prefer a NA discovery over one made in SA or Africa but we are equal opportunity players for the most part the deciding factor is largely dependent on size. A pizz ant play isn't going to get much attention regardless and zero attention if it were outside Canada, however an elephant play, like Reco will get plenty of attention as you can see.
Narry a drop discovered yet and it's trading at $ 420 Million market cap and I'll wager it is almost entirely retail driven.
TXP is a bit of a sleeper, In my view it was never fully appreciated for it's potential which only became apparent after a few good hits and the story started to become better understoood but by then the average retail investor in Canada probably thought they had missed most of the upside and so are either sitting on the sidelines wondering what to do or have moved on to cheaper pre discovery plays.
So now at a market cap of $ 540 Million we aren't particularly attractive to retail but the derisking is putting us squarely in the sights of institutional players which is just perfect for the early birds like us who can react much faster when good news hits buying more at a decent price before the lumbering institutional guys get out of bed.
An observation from one Canadian retail investor anyway.
Davidblackgreen wrote: Different types of market with Canada a much broader retail market than the U.K. in the resources area.
But with a distinct Toronto bias against non Canadian gas plays it would appear to an outsider?
Odd really when you think that Trinidad is geologically part of the Venezuelan oil patch which is hardly small!
Also Toronto is not showing to much affection towards TXP of late? Although that will probably change with news as you Canucks tends to be more enthusiastic than here in London. We Brits seem somewhat subdued until we work it out fully, we gives you guys a heads start.