KAR

I topped up with a small parcel this AM.  It is very hard to believe that at more than 250m of nearly all oil, the market only increased its share price by 10% after trading resumed yesterday.  For me, it has dropped nearly 50% from my average buy price.  Hence, this will average down my buy price.  Meanwhile, with FAR, it found some oil in Senegal and its share price nearly exploded a week or two ago...  We know the price of oil has fallen but this cannot be forever.  It is not cheap to find new oil field and because most are offshore, the cost of production is exorbitant too.

KAR

A jump today but it isn't spectacular enough considering it is 250m of oil discovered.  Maybe, it isn't easy to extract.

We will see what happens tomorrow....

Going cheap...

I took this line just to illustrate...

Metals X has bought the Meekatharra gold operations from Reed Resources for $9.9m. Some $117m has been spent on Meekatharra in the past.


This is a clever opportunist but these opportunists are now having to compete with other vultures.  Desperate and poorly managed stocks with great assets and exploration records are plentiful.  It takes an adventurous soul to venture in but vultures can be hardy and brave.  Markets never stay down permanently so if the vulture has enough food on the side, these extra morsels make very nice meals later on.