AOR - Aorere Resources (previously WID)

[Xerof]

SSP announced a few days ago at .007c, now we have an oil discovery at Kotoku.

This'll be an interesting case study in greed and risk taking

[Bobcat.]

I like what I see in this morning's announcement, and so have just bought into this stock with a small parcel @1.1c. Their 70% increase in nta per share since May off the back of Mosman's oil discovery at Kotuku was the deciding factor.

Looking at its chart, I'm anticipating previous technical resistance @1.1 to become a new support level, with buying interest growing through this week.

I also get to purchase another $15k @ 0.7cps under their recently announced SPP which will take my av buy price down well under 1cps.

Not so good for whoever it was who bought this morning @1.4c but I wouldn't be surprised if the current momentum shift takes the sp back up there before long...perhaps once the SPP is behind us.

BC

[blackcap]

Blimey look at the share price retract again after the initial euphoria. This stock has just become half as risky as it was on Friday and yet the price is roughly the same. I may wait another day or two to see what MSMN http://www.londonstockexchange.com/e...INET1GBGBXASQ1 does before committing. But the discount to NTA is getting too big to ignore. One small caveat... AOR cannot sell their MSMN shares for a period of time I think.

[Xerof]

BC, you are also now eligible to take more at .007 in the SSP.

this will 'complicate' things as stale holders, of which there are plenty, might sell down to participate, rather than simply add to existing. On the other side, there will be some who buy in to be able to participate. Time will tell

A further update today might tell us more about the 'discovery'

[Bobcat.]

Blimey look at the share price retract again after the initial euphoria. This stock has just become half as risky as it was on Friday and yet the price is roughly the same. I may wait another day or two to see what MSMN http://www.londonstockexchange.com/e...INET1GBGBXASQ1 does before committing. But the discount to NTA is getting too big to ignore. One small caveat... AOR cannot sell their MSMN shares for a period of time I think.

On Friday, MSMN jumped from 12p to 42p before retracting to close at 37p. I doubt that tonight it will crumble. Anyting around 1cps for AOR is now well below fair value IMO. Buying under the SPP looks a clear winner.

[blackcap]

Sorry, just read SPP document. Need a minimum of 71428 shares to take part in SPP.

Moosie... that is the minimum amount of shares one can apply for. If you hold 1 AOR share you can participate in the SPP. Well that is what the NZX told me.

[Bobcat.]

Sorry, just read SPP document. Need a minimum of 71428 shares to take part in SPP.

71428 ×0.07 = $5000 = minimum purchase.

[Xerof]

71428 ×0.07 = $5000 = minimum purchase.

71428 x 0.007 = $500 = minimum

as I said, stale holder overhang and SSP is supressing the price.

blackcap, this company permanently trades well below NTA, has done so for decades. It would be nice to see true value reflected sometime soon.

good luck trying to buy 1 share to get on the register lol

[Bobcat.]

Ah cheers then BC!

My math is not so good this morning...

0.07c × 17428 = $500 minimum purchase under the SPP.

[Bobcat.]

Ah yes, multitasking has never been my strength. Too busy watching the soccer.

I will be taking up my entitlement. This stock is very good value IMO at anything under 1cps.