My apologies , I said news would be out last week, I missed it by a day. Great news release for NCS and its shareholders.
Lots of cash and shares coming back in and 50 percent of the play.
As this play evolves for NCS I think we'll see a free ride on the entire 11 million acres. Not bad if they continue to play hard ball in the negotiation of J.V.'s and retain a 50 percent share throughout.
Ashton's in for 42,5 percent and they have to fund the entire play {their share}.
An important aspect of this strategy is that NCS will not have to dilute its 4.7 million shares to raise capitol for exploration , drilling expenses, etc.
The upside potential here is quite impressive and as this play develops I think we'll see NCS lead the Alberta play. Once all the J.V.'s are complete and they start their drilling programs , things will heat up very fast for NCS.
Consider this, several companies { 5 to 10 } drilling late this summer and early fall. Results will be coming from all directions and if the targets are as easy for them as it was for Ashton............
One last point which I heard a while ago and have sent an e-mail to Tom at NCS to confirm, is that NCS management/employess hold over 2 million shares !! Hopefully Tom , their IR guy will confirm this, this week. Does anyone know if this info is available on the net on some insider report ?
IF its true, now we have a max. float of 2.7 million shares. Just look at the volume over the last 4-6 weeks, no ones letting go. The price is drifting lower but on extremely low volume.This news release may even bump start it, who knows. Many investors are fed up with the gold scams we seem to hear about every other week and are looking for a safe haven. Diamonds may be the key, plus its a Canadian play and not some bug infested jungle island , nobodys ever heard of.
I know, I know , I'm rambling on
Bye
Craig |
