For what it's worth:
From reviewing the news from the company, plus the discussion on this thread over the past few weeks, I am of the opinion now that TCXXF will trade in a range between 5/32 and 7/32 between now and the time of the Annual Meeting: it won't go much lower because there will be enough bottom fishers like myself around, but it won't go much higher either because of the uncertainty over the roll-back and the retention of the NASDAQ listing.
After the Meeting, and assuming the shareholder's approve the roll-back, I would expect the share price to consolidate a bit around the new $1.50 or so rolled-back price, with more disgruntled shareholders like Hunter Trout selling, until such time that one of these new deals in Indonesia is completed, then the stock will start to move. I do not think that drilling on the NT Block will do much for the stock (unless, of course, a big discovery is made), because this is an old story. I also would not be surprised to see the drilling delayed (looking at Tracer's past record).
All in all, IMO, the roll-back will be a positive - allowing Tracer to attract new shareholders and new deals, and hopefully some new capital, which would push the stock price to higher levels. I would expect that we will all be much happier by the end of June.
That's it for now. |
