Further Thought's & Something worthy of investigatWell the share price seems to be under pressure all the time now and it looks likely that this rights issue when it does finally appear will be at a price well below 10cents.
That in itself must be bad news because it will lessen the amount of money raised and therefore the amount of debt repaid will be less, just increasing the chances of a further fund raising in the not to distant future to clear the books.
The price of Gold falling back is not helping either as that is costing them $thousands each week, which just adds to the strain on their finances.
No further comments from those who were posting weekly gold pours, so not sure how things are going at the moment, really torn between the last press release commenting about no real improvement at PC in December compared to November and the numbers posters were talking about. Perhaps the company is waiting until the begining of Feb before releasing numbers for the whole of January to try and keep shareholders informed!!
If not then they will likely need to put out a lot of info with the rights issue documents (well they do in the Ireland & the UK, but maybe not in Canada!)
Hopefully you will get access to the info you badly need to make informed decisions on soon.
While you are waiting you might want to do a little research on an Australian listed company called Jupiter Energy. (I know I should be looking more at Ireland & UK stocks, but quite frankly ISE & AIM are crap for trading on, so I've been researching a number of AUS stocks).
JPR is the code, this is a small Oil company and has risk from currently being both a one country and one license operation. However having said that, the potential gains are certainly worth looking at. Yes there are lots of shares in issue which we Europeans like and those of you from North America dont normally like. However just think of the 1.6 Billion shares in issue at just under A
.04 cents as being 160 million shares priced at A
.40 instead.
There is a good presentation to look at on their website, which has just been updated.
They have found Oil and it looks like it might be as much as 80 Million barrels recoverable, so that potentially works out at half a barrel of oil in the ground for every A
.40 worth of shares!!! add on production costs, taxes etc and you are still looking at a very health profit.
One of the top AUS brokers had them as a speculative buy at upto A
.125 a share prior to their latest well. This well confirmed their oil find and is about to be stimulated and put into trial production via the domestic market, yet none of this is reflected in the current share price. They also have a major shareholder who has a good record of investing in small oil companies and is looking for a multibag return on its investment.
Its certainly worth spending a litle time researching that's for sure. Then you can make you own mind up
And for the record I do own some JPR.
LOTM