I'm sure it is moreso infuriating for the holders who are here for the shorter term. As I said to someone yesterday, I really couldn't care if CAP was trading at two dollars or two cents right now. I have welcomed the pull back on the markets with open arms as I grab a few more of this one on the cheap. In the long run, this company will either come up trumps and be a $5+ stock at the very least (just crunch some basic cash-flow estimates here), or it will falter and wither away into nothing. Forgetting Hawsons for a moment, I struggle to see how Hughenden will just 'wither away'. There is far too much corporate movement in the Galilee Basin right now for it all to come to nothing, and GUF/CAP are very nicely positioned to exploit any developments that the majors, such as Vale and Adani, make up north over the next few years. Now where's that JORC! Its been two weeks since we were notified that GUF had just 3 more holes to drill to complete the drill campaign in EPC1477; the time is nigh.
CAP Price at posting:
23.8¢ Sentiment: LT Buy Disclosure: Held