LFD book value is $0.36The reason for last week selloff was debt issues in the Europeand most traders (I would dare to speculate most black boxes) executed tradesbenefiting US$, US treasures, and hitting hard on all commodities, currencies and stocks. You’ll logically think that gold willrun up big time as last standing currency, but opposite happened. The Greeceand the rest of PIGS countries had same debt problems for weeks or months ifnot years, and realistically you would think that the one trillion financingshould calm the markets at least for now. But no the markets go wild and totallyget blinded for the minute and nobody is focusing on US federal and almost asbig state and cities financial problems with huge deficits and debt, and never endingprinting of $ and push all this assets up.
So we had last weekanother big market selloff, and LFD didn’t do much better than most of thejunior stocks. The bids get pulled down quickly, and sellers oblige and giveaway their shares at loss. Some investors are forced to sell to raise cash, andsome are just not convinced to hold shares and some just follow the crowd forsmall exit since the stomach is churning. The (smart) buyers take all this cheap shares and usually theseare the best times to buy imho. Last weeklast line of defense was
.20, and you could sell any large number of shares.On Friday they boxed the trade between
.20 and
.21. Almost whole day therewas very large bid and very large offer at this levels. So if for the moment weconsider reasonable possibility that financial world is not going to crash, andthat was just one big correction here are few facts about LFD. The book valueat the moment is approx.
.36 so this is probably just great buying opportunity.For all the posters crying that somebody is dumping shares on us the public Iwould suggest that probable what happened is opposite. Maybe this posters arenot so innocent but want to scare even more investors to sell. Just spend 15minutes checking how and at what level LFD was financed since game started andjust maybe your opinion will change. The LFD is participating in exploration inthe country with big risks, but on other side there is also huge price topossible win. And when you invest in the junior stocks there is always big riskand you have to decide if the odds are with you or against you.
For poster that keep on asking about timing of seismic youneed to just read M&A. It’s stated that they’ll will sign contract andstart seismic by end of Q2. Sometimes I just wonder if some people do even basicresearch in company they invest, or they just follow the crowd.