I guess people have said the same thing about nzog shares.
The rate they are blowing money on pike and their offices/staff means they are going backwards fast
Printable View
There's always the next well to drill?
Wish NZOG would pay a high dividend to shareholders and when it makes big investment decisions like putting more money into that dark hole PRC or invest in some offshore venture, it has to convince shareholders to put money in via a cash issue.
That day will never come however.
nzo investment in ppp now looking pretty sick with sp of 25c au.
nzocan buy another 4% of ppp to take it to just under 19% and thus not required to make a bid for company, however have to be mindful that once a non australian company owns more than 15% then ppp will not longer be classed as an entirely australian owned and what implications this will cause I do not know - it may be just more reporting or it may be more.
upcoming tui drills have to be good and there are no prizes for guessing what shareholders will be expressing if they are not good and nzo investment goes sour
M
Strange how most of us have very short memories. It was not that long ago when NZO was berated for not buying more of PPP. The story then was look at how much they lost when they could have bought at 40 to 50 cents.
I place little likehood NZO will increase in PPP even now with the need to focus on PIKE. Pike will end up a good producer even if now they are well behing[2 years] what formally was targeted. Now i think PIKE is in a much better understanding of the problems with this coal mine. The resource is there and the plan to produce is slowly taking shape. So with PIKE will we in two years again show our short memory and say NZO should have taken out PRC when it was only 85 cents in March 2010. Would not suprise me,and it will be the same ones now saying the opposite what was said a few months ago about PPP.
From my memory: the 'strategy' re PPP purchase was mainly to support its shareprice while it was trading below its cash backing during the 'GFC'. TR would likely have been worried that some raider snaps it up on the cheap. The purchase price was mostly in the 20s cent range, so it is still a good investment (plus the divvi received).
I'm with you Digger, I can't believe the number of "down day" moaners, as soon as things look a bit tough you all start whinging, making dosh is not simple, good times and bad times go hand in hand, Some of you buggars need to harden up a bit. Being in business involves taking risks, you might lose a bit (or your shirt) and you might make a bit (or a house in the Sounds).
Nog is in the oil and coal business at the moment...risky but could be (will be in my opinion) rewarding.
Didn't notice Scott Styris goin all soft when the Ozzie bowler wanted to stare him down last night, thats what I like in a joker, take no sh.t !!
But we need these negative people to create price drops so I can trade profitably. Keep it up I say.