RE:RE:RE:Big drop
Bertie20: I also think there may be some short pressure here driving share price down. Maybe naked shorting plannng to buy shares back at lower price very profitably. And then reload at even lower price if an issue is required. That has been the playbook in Canadian microcap resource stocks for some time. Terry Lynch and others have been working to docment this and change some structural flaws in marke including short exemot status for banks, funds, private equity when the rent back office pipes for algo trading. Another problem is the limited market for microcap pre-prroduction resource companies. There are only one or two funds that buy these type of companies. Brokers with their fiduciary responsibility cannot recommend them and indeed have to discourage anyone from buying shares. The world of priate investors in this space has shrunk over last few years are the shares of the companies are undervalued with respect th the resources they discover and find in difficult to get re-rated (necessary to raise capital) when they hit milestones. Only the traders are making money.
I have been thinking they have enough cash to get through this planned season We should try to clarify that. If they don't there will be intense pressure to drive shares down. Like you I do not know what Sprouls will do with limited data on one well and the geophyics they have. Fractured basement plays are unconventional and tricky. Especially in a brand new area. Still it is a very interesting even exciting discovery. I am sure not tempted to sell any. In fact will continue to buy.