I hope its dry in Tyler for the next 24 hours !!! Price still...

I hope its dry in Tyler for the next 24 hours !!!

Price still creeping up 5.8 cents now but should be around the 7 cents with cash NAV at 7.7 cents.

I looked a little bit deeper into AXT's past, for answers as to why the discount is still so large.

In May 2011 they were priced at 15 cents a share, by Nov 2011 they were down to 3.2 cents (a price which they've never been back above until last week) & were down to 1.5 cents by Aug 2012.

If you go further back they were 50 cents a share in June 2007 !! ouch !!

Which shows just how much they've lost in value & the pain longer term holders suffered. They were a mining company originally & PANR was meant to be a short term investment for them in 2011.

2011 Annual report
http://www.asx.com.au/asxpdf/20111101/pdf/4227fsj1kdm3bw.pdf

So in some ways longer term shareholders who don't follow it or understand oil & gas plays are seeing a chance to finally get out & recoup some of there original investment from 4+ years ago & are taking the chance, probably scared in case it crashes back down in price again.

Once they've left the scene I think it will trade nearer that 0.5 cents a share discount I've been talking about.

The 5.5 cents closing price against a fully discounted NAV of 7.7 cents is plain crazy.

Last year's annual report, shows just 652 shareholdings (ok some will be in nominee accounts) and only 114 of them held over 100,000 shares !!

1 Million shares got you in the top 20 holders !!

LOTM