Have been wondering how to respond to your post. Part of me can't be bothered, but I've decided to reply to clarify a few points.
* Firstly, I've pointed out in my posts that I consider this stock to be high risk and not for the faint hearted, so it's not for everyone. At no point have I suggested otherwise.
* In my last post I responded to a question from another poster regarding the underwriting. In it I stated that the new underwriting agreement with Wentworth is a positive. If you have any knowledge of share markets you will agree that a fully underwritten issue is better than a partially underwritten one as it ensures the company receives all of the required funds. This has nothing to do with 'spin doctoring' as you suggest. Whilst we're on that point spin doctoring goes both ways (negative and positive) and you are certainly doing plenty of your own.
* Cash may be an issue but you are discounting the possibility that deals can be done without cash requirements via asset sales, JV, Farmin agreements etc. This raising gets TLU out of their short term funding problems. You are correct in that if nothing occurs from an asset sale, farming agreement, JV announcement etc then more capital may be required and further raisings would be necessary. This would probably be detrimental to existing shareholders.
* Based on the assets TLU has I consider it to be undervalued. It has a very low market cap. At .002 it has limited downside and my view is that it has plenty of potential to increase (subject to something going our way). Of course, if things continue to go wrong then all may be lost. Getting back to my original point - this stock is not for everyone and is not for the faint hearted.
* Wentworth underwriting the issue - correct me if I'm wrong but I don't suspect they'll be wanting to be holding onto a pile of worthless stock?? I see this underwriting agreement as a positive.
Broosta - I'm going to leave it there. This stock clearly isn't for you. I suggest looking at Telstra or one of the banks as you can't afford to lose your retirement savings. I also question your motive for continually posting negative info on a stock you don't own, and based on your posts never will. I have always been balanced with my posts, and although I have it as a buy I have pointed out that it is high risk and not for everyone. It doesn't bother me if anyone on HC buys this stock or not. The stock will succeed or fail on the outcomes of decisions made in the coming few months in my opinion. Some luck may also be required with the outcome of the arbitration (February I think), and also maybe a drilling outcome. Time will tell.
Just so we are clear and in the interests of full disclosure
I am a holder
This stock is high risk
You may lose money if you buy this stock
If you buy this stock you may make money
DYOR
And just a little bit of fun on the side Broosta - I'll donate $200 dollars to the charity of your choice if the company fails/goes broke in the next 12 months.
Cheers
Doyle
TLU Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
