Akita will double if not triple. Hi Martin,
I'm an old guy so been in the market for 44 years and like all investors we
do get these "bad luck one"
I too was and investor in Akita in the good old days.
Made a lot of money with this company(Murray Roth was the CFO back then).
I recently bought back close to 65,000 shares of Akita.
I can't tell you what to do but let say you bough 1000 shares at $6
By buying the same amount in $ term you could buy at today's price of $1.40,
4300 shares.That would take your average cost from $6 to $2.27.
But to do so, you have to believe that Akita is once again on the right path.
I certainly beleive so,that is why i bought back in.I had stopped following this company.
but when i saw them making money once again, i started doing my research on them
I could't beleive how cheap the stock is trading vs the value of their assets and VS
their profitability
If you read the recent presentation on Akita web site, you will see the company says that
the actual market value of their rig is $11.71.
Akita won't go in the very short term to the value of their rigs but
with a book value that is highly depreciated($3.98 in Q3), with the comapny working on debt reduction
and with Akita being once again profitable( even in a soft market for drilling)...
I can see the share price doubling if not tripling.
Will this occur in the next few weeks? absolutly not but i can see this happening over the next 12 to 24 months and maybe faster than that.
Once it starts moving, it will move fast.
Good luck with all of your investments.
Sorry for the spelling mistakes, i am french speaking