finished @ 27.5 au
still think there is a lot more upside
M
Printable View
PPP at 33c has broken upwards out of its 8 month old 24c-31c trading range. A bullish sign.
disc : NZO,PPP,PRC,GPG,MFT
huge buying again on asx today.
up to 29c au at one stage.
imo someone is buying heaps - entering market to buy andonceprice gets to high [for now] they back off, to flush out more sellers.
crunch time will be how it performs tomorrow before the weekend close.
M
talking to my stockbroker today who mentioned that after doing some research into management of ppp, the feedback was rather like "they are treading water" and lacking drive to build the company.
I mentioned AT's purchase last month @ 22c au and that AT could not buy if anything in the wings.
also mentioned that ppp could do a lot worse with their cash than buying $1m of awe & nzo shares every week, but my stockbroker indicated that was probably beyond the thinking of management.
So TR & AT do not have a positive reputation in au amongst stockbrokers
despite all this, cash is king and the numbers in the quarterly report will speak for themselves.
just had a thought, maybe ppp keeping the cash up their sleeve so can fastrack maitland once the delineation wells confirm the size of the field -
like maitland would need say 4 development wells, a platform, and a pipeline to join a hub.
we wait for the quarterly
M
talking to my stockbroker today who mentioned that after doing some research into management of ppp, the feedback was rather like "they are treading water" and lacking drive to build the company.
I mentioned AT's purchase last month @ 22c au and that AT could not buy if anything in the wings.
also mentioned that ppp could do a lot worse with their cash than buying $1m of awe & nzo shares every week, but my stockbroker indicated that was probably beyond the thinking of management.
So TR & AT do not have a positive reputation in au amongst stockbrokers
The older and more experienced i get the less respect for stockbrokers i have.The needle has shifed down to about nil now. The one i had in Hamilton always had ads for finance companies but never any push in there newletters about oil company investments.Last time i mentioned this got a frosty reception.Brokers are just toooo interested in a quick profit for themselves than to steer there clints toward an investment in the best interest of the client.Recent example of my friend that got taken out of NZO with a 12% profit in 4 months because the broker talked him into selling as it was a case that you made a good profit and you can never go broke taking a winning. No mention was ever made or considered that the profit would soon be a lot bigger as the broker had his commission as his primary motive.
Hi Bermuda, I enjoy your posts and your enthusiasm. Your quote above intrigued me. You have said you don't actually own any PPP curently but had plenty in the past. What is it that has put you off getting back in and buying at least some shares, apart from increasing your holdings in RPM, VPE and BOW? Would selling everything and sticking it all into PPP be that risky (other than it not being wise to have all your eggs in one basket)?
The PPP SP hasn't appreciated anywhere near as fast as NZO in the last few weeks but then the latter has 3 projects on the go. Others have said PPP is not a one trick pony but the SP does seem to languish. Do you think its currently severely undervalued?
Maybe people are concerned at just what the directors are going to do with all the cash thats accumulating. Perhaps a dividend would help get things moving. Hopefully the quarterly will see some action.
quarterly is no place for an actual dividend.
it is however where the management should give some indication of the way forward - the absence of which would not go down well. A.T.'s share purchase @ 22c au in March implies nothing new planned at that stage = is 6 weeks seperation to April 30 enough seperation?
still expect an updated tui production forecast until june 30 will come out in the quarterly.
if the management can demostrate a positive way forward, then sp cvould or should jump up past 30c au.
we do own quite a lot of ppp
M
[QUOTE=digger;195570]
The older and more experienced i get the less respect for stockbrokers i have.The needle has shifed down to about nil now.
You're so right. I (accidently) clicked on the Direct Broking 'Company Research' page . hile I was there I had a look for NZOG. Yep. There they were with a 'Recommendation' == REDUCE. Whover made that recommendation - I wonder what planet they think they're on?
[QUOTE=pietrade;196328]AspectHuntley are totally useless when it comes to resource stocks. Of course, if its RIO or BHP
they run with the sheep and upgrade them (after the run) but otherwise you've got be a bank,
insurance or other financial company to be a BUY in their books. What a joke!!!