I’m not buying. And in the absence of deep rooted changes in the company, I won’t buy regardless of how low the price falls. In fact, if the price continues to drop I’d be less inclined than ever to purchase another parcel.
I don’t have a good sense on where the bottom is at the moment. SA and Op have underwhelmed the market with every announcement. As did Alacran, and the next lot of Alacran results are up to a year away.
Cash burn is a emerging as a tremendously important issue, now more than ever. The next CR will once again loom large. If we enter that period with a SP around current levels, we may all be diluted to oblivion.
Tony says the company is in a good place. He has used those same words on numerous occasions over the years. I wonder what about his current place he feels is good?
AZS Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held