- The share price was at/around all-time lows; - Cash was getting down close to nothing; - Company was in a dispute with Cadlao JV partner (Blade); - Company was in line to pay $3M towards a drill in NZ for a 10% stake in the project (waste of money/dilution for a company this size); - No direction and company was going nowhere.
Today:
- Share price moving up and starting to reflect where the company is going; - Ditched expensive NZ drill project; - Cashed up/access to capital; - Cadlao JV seems to be back on track: "Blade pursuing alternative funding with the support of Raisama"; - Albers & Co on the Board and steering the ship; - Almost weekly significant announcements: -- New seismic acquisition; -- New project acquisition coming; -- Ditched expensive project.
Hopefully next month the share price will be back to where it was this time last year, 10c+, and the way things are going since Albers & Co jumped onboard, I would not be surprised if it does get there in a haste.
RAI Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held