hi alan
"if it's 15% or more I might go for a higher free carry sell because even 20c isn't fair value for the risk/return, wouldn't you agree sandy? 20c is $20m market cap give or take"
the most important thing is you cover your backside, therefore any shares no matter how many should be free carried.
personally i wouldn't buy GGX over 10 cents, better off waiting for the well being drilled & completed.
the share price will probably go higher in the short term, but i wouldn't like to be holding the baby (unless being free carried) when they finish drilling an announce results.
hence the reason why i have Sentiment: None
look at what happened with L&M Petroleum this week.
hi alan"if it's 15% or more I might go for a higher free carry...
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