Investors do not like UNCERTAINTYToday I sold out my complete position and purchased BYSI on Nasdaq that has the possibility of +1000% returns within 12 months to 18 months.
It was the press release of RECO of this morning that convinced me to sell.
These are my reasons:
(a) Jarvie did not speak in the press release. I invested because of his expertise and his silence concerned me. Why did he not speak???
(b) Drilling in both holes did not hit total depth so that begs the question, why????
(c) Steinke had gone on record as saying that we will be expecting a big news release in July 2021. The news of this morning earned a yawn at best. And to think that Nambia had to approve it. What was their to approve and look at. Little to nothing was released that was material in this press release.
(d) We were supposed to get core lab results from 3rd parties on hole 6-2 (drilled months ago) and, these were not released so that begs the question.....why? Why hold back these core lab results. We were promised them by management that it would be 3rd party verified.
(e) Numcor was all smiles on hole 6-2 results and literally could not hold themselves in wanting to tell the world, then all of a sudden, no smiles and nothing to talk about.
(f) Nambia that was gloating over initial results suddenly is saying nothing.
(g) Joint ventures were supposed to be Q4 this year, now there is a wait for seismic first and, then see where maybe 1 or 2 drill holes are done. So what happened to joint venture negotiations???
(h) In 2022 they had stated that they wanted to produce oil, now they are speaking of drilling 3 or 4 more holes? Have they not found oil?
(i) Why are they releasing mug logs, you need hard data to sustain a $ 2 billion valuation and, not mug logs.
After reading the news release I was left scratching my head as the next catalyst will be months away when another drill is done and, the way they released the news today was discouraging. What convinces me that it will change in the future????
So why all this uncertainty all of a sudden???
Normally you would want to BRAG to the world that you have the goods and, show off the data....as that is the best way to convince people and shut them up....
Why silence on this???
I did not like what I saw and, therefore sold.
Those are my reasons.
I wish the best of luck to the rest of you and to the company. It was time to move on.
I gave you guys a stock tip: BYSI which has a $ 100 per share price target, trades at $ 21.60 per share and, just released medical data from trials that their drugs will replace chemo therapy, results are better, people live longer and, no side effects. New Drug application to be done in 1st half of 2022. They are expected to do $ 4 billion per year in sales, and are valued at a $800 million market cap. Normally companies trade at 10x sales and not 1/5 sales.
mpo