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pxmff philex mining is down pretty big today....down 28% down to 26 pennies....thats suprising seeing this was good news today going forward unless someone is acting on the 3d results before they make it public.
BUT because the volume is a lousy 6 thousand volume......its more likely a head fake by market makers before this goes higher on its way to 50 cents. So this might be a good buying opportunity for enetering a position in philex.......they own a much larger share of fep, and anounced good numbers last quarter.
just my opinion
i really thought this chinese incident would have pushed us back a month at least with the 3d seismic........my fear was wrong but i still think it was justified....Good on Fecof for making steady progress.
i agree eom. very foward looking statements and I really look foward to them coming true..... even half the expected stuff would be great.
BUT the key words they keep using is believed and expected so till then we will have to wait and hope for the best until it is proven.
at least the location in somewhat dispute has a precedent with international law...that was an immediate threat to this whole project, but i do feel much better about its safety from china......i'm suprised they will continue the survey before finishing talks with china about the incident but i'm glad they are taking initiative to continue what they started rather than be bullied by china for an Ok to go foward.
glta
i cant stop thinking that, JUST the math on the oil,
440 million barrels of oil
at * $100 a barrel
----
44,000,000,000 a.k.a. 44 billion dollars
recovery rate 60%
---------------
around 25 billion dollars
lets just say conservatively speaking fep has just 70% of sc72 so lets round it out to 20 billion give or take.
20 billion
just 10%profit margin would be 2 billion
fecof's25% 0f 2 billion = 500mil
fecof minimum $500 million and thats just one aspect of it....besides the stock multiple will certainly be higher than its cash equivalent. once again, thats just the oil.
by the way.i dont know for sure if the recovery rate for the gas is only an average of 60% , and / or if oil has an even higher recovery rate than that. Maybe a pro on the subject can enlighten me/us on that one.
thanks, just food for thought
i like it.....
lots of incentive for the govt. to press ahead with the sc72 project......even fund us if necessary.
i have 100k shares in my nephews account..... he's only 5 now. If this goes well, when he can cash in at 18 he better remember me. 13 years to turn a cool 5 grand into a half mil. Hopefully its possible.
one downer though......
the cash rich japanese investors might be in a sort of limbo now with that earthquake recently...........hopefully most of them were away on vacation golfing in the states. Theres always something , this stock has many curveballs.
nice link hain.......
the way i read this quote:
" Total resources in the basin are estimated at 440 million bbl oil equivalent."
is that the gas deposit.........that same 3tcf is the 440 million bbl oil equivalent.....................not that there is 440 million barrels of oil ontop of the gas.
Please tell me i'm wrong......i wish they were seperate and we had both.
i'm not in the industry....maybe someone in this industry can confirm if the 3 tcf equates to 440 m barrels equivalent.
thanks hain but my question of the 440 million barrels ever being mentioned before and to whom or to what specific region or field are they talking about hasnt been answered.
We all know about the 3 tcf.....and i see a comparison to the shell malampaya where they have 40 m barrels.
but ive never heard of this 440 million barrel number mentioned before these last few days......I was just wondering if this specific number ever came up before,,,,,,,,,,,is it a leak on sc72 or just the whole of the spartlys region
may i ask your opinion mr. hain
from all these postings...is the afformentioned 440 million barrels of oil in the spratlys ? and surrounding area including the reed bank ? or were they hinting specifically service contract 72?
this line from hain's most recent post has a quote referring to the d.o.e. research vessel and the fep study being one in the same.....at least thats my take on it.
"He, however, expressed concerns on the security aspect of the recommendation, noting that the recent tension caused by the reported harassment by two Chinese gunboats of a research vessel of the Department of Energy (DOE) and its partner Forum Energy Philippines to conduct seismic research at the Reed Bank near the Spratlys. "
p.s. thanks for being civil with your difference of opinion on this matter...some of us here have too much attitude with difference of opinion
one other thing....you say it wouldnt impede any exploratory drilling on fep's part?
Please rethink that statement. If a research vessel was halted in the reed bank for just exploring, even if it wasnt related to fep which we now know it is, wouldnt you agree that it definitely impedes any drilling as well as to avoid conflict?
I feel all this will be resolved, but not as quick as people wish or would like to believe BUT it is a serious govt. conflict here where no single company will continue as they please until this conflict is settled.
if thats the case then i stand corrected, but i'm not sure thats the case.
i thought i read somewhere <i'll look for it later> that they specifically said they were looking at sc72 <our sevice contract> when the chinese gunboats came.
also......does it go like this?
fep does the study and the doe confirms it...........
or the other way around with
the d.o.e. doing the study and f.e.p. confirming it?
I would THINK that its on fep first.....and the d.o.e. needing to confirm it to o.k. the drilling......
then again i dont live in the philipines so i'm not positive.
lets look at it this way...........The first study that anounced 3 tcf....that was fep wasnt it? If so then it would be the doe to confirm it.
my point is that we are on the same team, i'm not against you..youve helped me somewhat so i dont want you to misread or understand statements that has you posting excitedly that results will definitely be in 3 weeks......they simply wont.....
YOU ARE SPEADREADING,,,,,,,,,,,,,,,the quote you should focus on was the one above, I've reposted it........
quote:
Energy Secretary Jose Rene Almendras said the seismic tests would resume after the Philippines and China held talks to resolve the dispute. Manila would send maritime affairs experts to Beijing later this week for negotiations."
there is no specific date with china yet, they are going to malaysia this week.
and the quote that you reposted was taken out of context.......it continues......"will resume we HOPE"
so please dont just read what you want to hear, read it thuroughly and stop trying to make me sound like a fool because you are the one with pie on your face my friend.
By the way, this wasnt an arguement....its just correcting and bringing to your attention quotes that you havent fully understood or read all the way thru.
have a nice day, I'm gonna go enjoy the weather outside.
Military to install radars on nine Spratly islands
by Florante S. Solmerin
THE military said Monday it will install radar equipment on nine islands in the disputed Spratlys to monitor intrusions even as the Coast Guard said it deployed three patrol vessels to secure a government oil survey ship reportedly harassed by two Chinese boats in the South China Sea.
“With the available resources that we have right now, all we can do is to react,” Western Command chief Lt. Gen. Juancho Sabban said in an interview in Camp Aguinaldo.
“But we will be installing radars in all our claimed islands for fast monitoring.”
On March 2, two Chinese Navy patrol vessels harassed an Energy Department survey ship, the m/v Veritas Voyager, in the Reed Bank, but left after the Navy and Air Force sent aircraft to the area.
Seismic testing for gas by an Anglo-Filipino consortium had been halted after an incident in which Manila says two Chinese boats threatened to ram a survey ship, the government said.
Energy Secretary Jose Rene Almendras said the seismic tests would resume after the Philippines and China held talks to resolve the dispute. Manila would send maritime affairs experts to Beijing later this week for negotiations.
“They had to pack up and reconstitute everything,” Almendras told reporters, saying it would take a few days to restart the tests. “We have to wait, but we hope to resume.”
The Philippines has already filed a diplomatic protest with the Chinese government over the incident, but Beijing has yet to respond to it.
Foreign Secretary Alberto del Rosario said the Energy Department’s research vessel was well within the Philippines’ exclusive economic zone.
Over the weekend, Coast Guard chief Admiral Wilfredo Tamayo said two vessels with divers and medical teams on board and a surveillance vessel were sent to patrol the waters off the southwestern province of Palawan and help the government-contracted ship doing a seismic survey of the area.
Sabban suggested that the government could renovate an airstrip on Pagasa Island and turn it into an airbase so it could respond faster to such incidents.
“We have an airstrip on Pagasa Island already, and all we have to do is to make an airbase to augment our maritime patrols, especially in the vicinity of our claimed islands,” Sabban said.
“We’re the first one to build an airstrip, but we’ve already been surpassed by the kind of airstrips that Vietnam, Taiwan and Malaysia have put up in the Spratlys.”
US Ambassador to the Philippines Harry Thomas Jr. urged the Spartlys claimants, especially China, to act with restraint.
“We urge restraint on all sides,” he said.
“We urge that the South China Sea issue be resolved in the negotiating table. We believe that the Asean states and China should sit down according to the 2002 Code of Conduct.” With Bloomberg and PNA
thats fine eom,
i wont argue with you on this subject, because even the company could care less if they show you the results much later since such an incident occurred. They
have a solid reason for the delay which theyve released info about just now......
the study will continue as they were forced to pack up and go home before they finished, and it will take them a few days just to restart...its in a post going back less then 15 posts.............so what are they going to show you? unfinished mapping?
I just dont want to see you holding your breath for 3 weeks when it will be closer to 6 if not more....Lets just hope these meetings go excellently......and the fact that this is on the top of their agenda with this whole incident and the spratlys is a huge plus for us...thats the real big news.....that there is STRONG interest in this area from many countries already tells me this is big.And the philipines have their agenda correct and will be greenlighting our project as soon as these issues are cleared.
uuuum.....
i wouldnt rely on that time frame eom..... before the incident, maybe they would have done it within that time frame,
BUT, as the dept. of energy says......its been halted until the talks/negotiations finish....
aquinno says it will take them a few days just to restart everything and that will be only after the meetings to keep conflict from arising again....so when they say a week or two..you should consider a month or 6 weeks.
just my opinion/ based on press releases
fep had another nice run
china is more than likely being aggressive so when negotiations go underway, what they dont claim as their own.....they will force others to sell them or license them to feed their never ending consumption and growing need for energy.
there will also be a rush for service contracts in the spratlys when a compromise/agreement for stability has been made. I wonder who is most likely to benefit? philex should be one.
i almost hate to say it but a nice conflict including sinking of ships before this is settled and done might help to finally bring attention to this company and stock since p.r. is just limited to anouncing the bare minimum. why is this specific number of 440 mil barrels of oil coming up so easily now when it was never mentioned before. they say chinese research....so theyve been scoping it out earlier, and how reliable are their numbers i really dont know....
glta hopefully this resumes in less than a month
halting til negotiations go underway.
quote:
Seismic testing for gas by an Anglo-Filipino consortium had been halted after an incident in which Manila says two Chinese boats threatened to ram a survey ship, the government said.
Energy Secretary Jose Rene Almendras said the seismic tests would resume after the Philippines and China held talks to resolve the dispute. Manila would send maritime affairs experts to Beijing later this week for negotiations.
“They had to pack up and reconstitute everything,” Almendras told reporters, saying it would take a few days to restart the tests. “We have to wait, but we hope to resume.”
hello eom.......
just off the top of your head,,,,have you read how deep this reed bank is? and is it comparable to the depths of the shell malampaya field................I'm just trying to find a comparable like they do is real estate appraisals.
if you dont remember seeing it, no worries....i'll search for it myself later......
thanks
o.k. hain.
you convinced me, I'm gonna buy some philex again.........sold it a year ago around .32
if that reed bank is gonna give us billions in profits.....<over many years>....then owning philex will be a great return and less of a risk than others since they are well diversified and ever expanding.
of all the articles i enjoyed hain's copy and paste
it shows the philipines willing to defend their waters and points out that this was clearly within philipines territory and only being contested by china and not others , for now, and that they will have talks with china to clear this up and keep it from repeating.
also...............
that 440 million barrels which i never heard mentioned before, if its all in service contract 72 and not just that area.........means this small cap company at an average price of 100 bucks a barrel..............is a multibillion dollar company.
all these events , assumptions...and conflicts.....have me excited and worried at the same time
very good article...
if we were to go by the chinese red line........outlining their so called claimed waters....it comes pretty damn close .....not sure without a zoomed in map.......I'll google for the research later for a zoomed up image......thanks.
I hope we dont go from owning this little unknown company....to owning the cause for the beginning of world war three. I doubt it, but there are definite international rammifications here,,,,,,,,,,,will be big headlines......maybe longterm its the publicity fep needs if at the end we get the undisputed rights.
brief youtube video showing how the study for a general gas find will go.
i would have to agree...it looks much much closer to the philipines than what is highlighted as two dots as the spaltry islands.......
supposedly there must be an oceanic map showing what waters belong to whom....
i wonder if any of that can be considered as shared waters........like a buffer zone or international waters.
The fact that china considers taiwan part of china and we all know it is not and continues as a seperate country, has me a little more hopeful that this wont end as a communist takeover of that find.........
although china is extrememly hungry for energy now and theres always a possibility of anything ..
I think that if we get partners for this, it will show confidence from people smarter than us willing to risk a billion investment on better information...........
If we dont get partners anounced <within reasonable time> it shows that the international community is scared that china will just reach in and take it.
At this stage in the game, i'd take the 3trillion with a definite partner and understanding with china than a possible 20t up in limbo never to be drilled.
in other words...the seismic study....even if great analysis is released will not do much percentage wise for this stock as compared to knowing that this issue of contested waters is cleared up.
its like finding out that the wallet you had stolen had more money in it than you had realized earlier....wouldnt make you happier or richer to know that.
this might be a buying opportunity as i think it may very well go to 2 cents again....and then shoot up if all turns out fine.....or it might be just a gamble that goes bust...I have no clue what will happen now.....i will hope for the best not only for fecof but also because this can become an international incident involving energy.
glta
no worries jdpro....
this is an open question to anyone and all.........
Ive never been in a stock like this in this territory before..................so the question is....can other countries mainly china, dismiss our service contract altogether..and put us in limbo indefinitely? how much is fecof really at risk now? not trying to stoke fear....this is a valid question..if this scenario/dispute has ever played out elsewhere please tell me the likelyhood of events going further.
was the shell deposit on contested waters too when they went foward..or is this completely different?
well........
this could be a very valid reason why fep hasnt gotten any partner offers for 101 service contract......
what good is it if the philipines give the o.k. but its still in disputed waters......the philipines call it undisputed but what does china call it?
has this scenario ever played itself out with china and the philipines before? it could be devastating.
the lagoscon was good news pending " 2 or 3 weeks"........but i find its timing interesting , trying to balance out dangerous news with hopeful news, as china makes headlines pretty much disputing the reed bank.
whats the risk here? 50/50?? more? less?
whats the u.n.'s take on who owns the rights in those waters?
i dont think i'm the only one who had his stomach turn on this investments new risk. i think one article pointed out a similar situation in the 80's that was just not pursued because of the dispute.......this alone could be reasons why large investors stayed away from this for so long. and a confrontation only makes it worse.
glta
"Do your own DD... "
i did......i'd like to think you are right......its in my best interest.
i think there are 2 camps.....one believing in undervalued companies existing.
and others..some are chartists, thinking that the market calls it right day to day for its current value and will adjust itself on the news and earnings.
I tend to agree with the first camp, and could agree with the second at times but not when its traded by just one market maker who has a spread as high as 25% between the bid and the ask and can move its price on a lousy 10 grand in volume....
jdpro thinks i might be picking a fight with him...on the contrary, i'm looking out for him advising that he doesnt rely on the charts too much with this specific stock....unless we can get at least 3 ACTIVE market makers on this stock I cant trust the light volume for any up or down movement.....the story does seem like its gonna play out but i wonder if we are talking 3 years now......in which case people dont have the urge to rush in....
I had a stock, Duke which had a very large find 4 years ago...but it didnt move much because they didnt start drilling it yet...and that was an already billion dollar company
I'm no oil well or driller specialist....but it seems equity doesnt get priced in MUCH, until every contract and partner is in place to start making profits from that equity..........just my opinion.
good luck
do you chart guys really believe you can figure out the future high and future lows near term by charting this stock with its totally meaningless volume?
any serious seller who might have bought shares at a penny just 3 months ago..who wants to sell for any number of possible reasons..margin call in some other posittion or just wants to buy a big house on the cheap .......could possibly sell 100 grand worth of stock and send it to 2 pennies......... todays volume represents a lousy 7 grand so far......its meaningless up or down with this volume,,,,,and yes the single market maker will have the stock do his bidding until there is large enough demand for the stock to take the market makers manipulations out of the equation.
very good post downsideup,
the only thing is like most on the board you seem utterly convinced that since they "philex" financed fecof with 2 million dollars at .50 cents a share, they must then be worth that 50 cents a share. I'd like to believe that as fact, and although I dont rule it out, The truth is that 2 million is a drop in the bucket for them and fecof is their majority owned company that they "maybe" didnt want to dilute any further or because of legal issues or strategy, couldnt dilute much more.
either way.......I do believe this company is worth more than 20 million but I dont know what the profit margins in their holdings will be....Philex at this point is a much easier company to analyze with their p.e..........the waiting game with lack of updates from the company is frustrating to long term investors. A confirmation, here and there is long overdue and neccesary. Keeping shareholders in the dark is not a good business practice and makes you wonder whose best interest they really have.
GLtA
o.k. eom.......thats good analysis of the worth in the ground.
please try not to attack me with this next question I have........its just an honest question. Not insinuating anything.
question: how much profit can they make from the assumed 280 million gold deposits?.......Can they get All of it....what are the usual profit margins when it comes to something like this. I know the labor should be somewhat cheap.
exactly what i was thinking...
could only be one of two things.........
1. theres nothing there but they want us to still speculate that there might be.
or
2. Theres something huge there and they want to accumulate as many shares as possible before releasing the info.
Which one do you think is most likely? I really dont know, I've never bought mining companies, let alone ones in the philipines to know how they really work.
how does it trade you ask??
pull up a historical volume chart.....but besides that....... even with a million shares traded.we are talking 30 grand changing hands today......
the reason a 30 grand sell could drop a stock so much??
Lack of demand, interest,,,etc......not to mention small cap stocks dont get much coverage if any.
people keep mentioning the potential.and i agree its there....timing is still a big issue....even by fecofs account......as stated in previous posts like the one eom repeats every 3 days or so...it clearly says that these events need about 36 months to play out.......3 years is not a short time......
as reports slowly come in....very slowly.the news should lift the stock higher.....like the affirmation of the seismic study.....but to keep it from seesawing up and down....you'll need to see a steady revenue stream from the fep holding, which wont be for years.
Lastly but not least.....i think there is just one market maker on this...and when that happens you are at the complete will of the often not too honorable actions and trading practices of a single market maker.
glta,
agreed.
Someone made a good arguement here that philex will probably have to wait<under regulations> til after the seismic study before offerring a fair bid....but i could see them tryilng to make a bid before fep gets partnerships signed for the gas deposits.
so basically the stock pops on some future news<confirmations>,then settles down lower before they make an offer/bid............. The more this company is followed...the more the exposure...then the more it will rise...and the less it will settle lower....
Maybe this is why the p.r. is seriously lacking here.......maybe they dont want too many following it so when they do make a buyout offer it wont be too high of a shareprice for them. Also, the downside is i dont see a bidding war since philex owns most of it....although an institution would buy shares for value regardless.
cvr's might make it interesting too, Contingent value right / warrant
glta
green tea:
there is nothing in your last post to me that i disagree with.........and i hope i didnt give you the impression that somehow i feel differently from the key points you mentioned.
yes down days...AND up days,,,are meaningless with this lousy volume trading...there are 100 people following this stock on ihub alone....if each recently invested 5 grand in the last month into fecof it would support more than half the volume seen.
My last post was not to ask if fecof was worth holding and if the share price will eventually be higher than 10.15 or even 20 cents.....
My post was strictly debating and disagreeing on one key speculation.........you think a buy out is unlikely and i think its the most likely scenario...and i supported my reasoning behind it..thats all.....doesnt change where i think this company is going....or my beliefe that the share price is going higher.
glta
hhhmmm........ definitely one of the two possibilities.
whith all due respect MR. GREEN TEA
Let me ask you this:
isnt it a company's responsibility to unlock value and capture hidden value for its shareholders?
many companies have spinoffs to unlock a subsidiaries value..especially if its a growth stock............growing revenues and eventually/hopefully earnings............. in which case your reasoning would hold more water. Fecof is not a growth company YET, it is although a hidden value or future undervalued company when results come in.
when a company <general company> itself is grossly undervalued...not only do they set up a stock buyback.......they may very well take themselves completely off the market and go private again.........only to Maybe go public again at a later time when the market might offer them an opportunity of a higher p.e. and recognition of their worth.
Philex is not undervalued <much> as a whole<reasonable p.e.>, but its subsidiaries are undervalued .....so they are responsible to their shareholders and might have to buy these undervalued subsidiaries outright so Philex recognizes all of the value gained.not just 50% of it.....then they can release fecof and/or fep as a combined company going public at a fair market value lets say 5 years from now<with a higher p.e. /market cap than that given in the private sector. The fact that fecof had no buyers at all today except the market maker filling shareholders<profit takers> sell orders at the bid simply shows that the demand to buy/ and or the recognition of this company's worth just isnt there. Maybe if it was a midcap stock it would get some steady institutional buying.....5 grand a day trading hands for a company worth around 20 million just doesnt cut it.
You base your opinion somewhat...if not mostly on management changes.......but i feel that those management changes need to be done regardless as fecof is slowly gonna position itself as a growth company and maybe bid for contracts itself...........the gold mine is long overdue in production itself. Fecof needs the new managment focus ,actively , regardless.
To do nothing of a takeover and leave the situation as is , Is a possibility but its the least likely.
I base my assumption on the fact that philex made an outright takeover bid for fep already, way back when..........next best thing would be to take over fecof for the same reasoning <undervalued subsidiary> they had for fep.
Takeover possibility is the clear option here.
you may think,,,, OOOOh......but fecof will get the attention and rise in its price when the unlocked value and new partner contracts hit the main street media news......making it a higher market cap allowing institutions with their current restricted criteria to buy into it...........and i reply.......as a philex shareholder i'd be pissed at the board for not trying to capture more of that gain for me instead of just 50% of it.
Fecofs biggest play is its hidden value of fep within feps hidden value of the gas deposits..... therefore philex is just buying up that hidden value/reserves.......not stunting fecofs current nonexistent growth.
to each his own.....glta
his concrete basis is wishful thinking and conjecture.
I too have wishful thinking but wouldnt put a time frame on such an uncertain outcome.
They <fecof> dont even have partners yet by their own account and you have clowns on this board making predictions with timelines.
wow....
on feb. 15th it will be one full year since getting the service contract .... Updated news is loooooooooooong overdue.
does anyone know if they still have only one market maker on this......and who they are?
Please stop contradicting yourself.....you dismiss a price drop on low volume ,or in fecs case....rediculously low not worthy to mention volume, of 140,ooo shares , Which i agree that it is dismissable...but then you think someone knows something because they didnt care if their 6000 dollar investment in fecof was at 5.5 or at 6 on its way to 25 cents hopefully....so what you are Constantly missing is simple math skills....dont be so impressed with 100k numbers..just do the math.....its meaningless volume either way.....I bought some of this at one penny for my nephew's account 2 months ago< 2 grand>......the spread was rediculous..0057 to .01......I bought at the ask....not because i knew something but because 1 penny was fair enough on this gamble and i didnt have the patience or want to risk not being filled.......end of story.
wrong about what in that post?
the volume today tells you that you are premature to think this will continue to skyrocket up until some unexpected positive news....not priced in news already.
200,000 volume multiplied by 5 cents is a lousy 10 thousand dollars traded today.....after what "some" of you wrote was 'the news we were all waiting for".
Before you attack me again as a basher, I want to say i feel more confident in my long position after analyzing some conversations and intelligent points made on this board.
But in the short near term the volume clearly paints a picture for those who dont know how to read the signs.
If anything this will drift lower without a big buyer.
I am not wrong to assume that if we all add every two weeks from our paychecks that this will NOT singlehandedly support this stock,,,,,,,,you need a real bull........like when first pacific kept adding to its philex shares making it go from 10 cents to 36 and staying there.
eom...........good luck to you because its also the same as wishing myself good luck....but not everyone is WrONG for denying to get excited about a 10,000 share buy like you do.
I really dont want to add anything else to this board for a very long time so please dont reply to my messages otherwise i feel compelled to write you back. Good luck
i wish i could write as well as you do........more with less words.
I agree with you, thanks for not attacking me, I'm gonna hold on regardless if I feel there is a buyout or if its allowed to grow. Lets not forget though..buying philex on the pinks is just as easily done as buying fecof in the pinks so theres not much reasoning there for them not to make a buyout for fecof when it comes to access for a flow of investors.
after further thought I realize that valid points were made on how they "philex" can make a
smaller bid on their first 50% at less than avg market prices , But will most likely have to make a much higher bid above market prices to take them out when it comes to a buyout. So I do concede that. Thats why i bring things up for discussion...not to just force my opinion on people but to think things out loud, get feedback and see if my reasoning evolves....and it has...thank you.
its ladies night tonight so i'm gonna go find some drunk ladies....I will try very hard to stay away from posting for a while
been addicted to this action here.....the detective stuff kind of sucks you in.
glta
db7
yes, you are correct in your statement, i'm just saying that this is not the watershed newsbreak some people were hoping it would be. I think this has the potential to make huge moves upward but this news although was good to here to rid some doubt away that this really is going forward in its process legally...its not IMHO the break out news.
Unless theres some delayed reaction and some institutional buying finally wants to get a piece of this after its slow approval process.
Now thats a good question.....can this and will this get any institutional interest while still under 10 cents? Now thats the kind of volume that will keep it going up......not the 30 investors on this board adding 10000 shares to their investment every week.
for what its worth,
i am glad to have a shareholder like yourself who says he will defend his position and holding.....etc........but ive been in shareholder lawsuits before from decimated stock holdings from companies that mislead their investors and at other times have just done outright corruption...and after Lawyer Fees of SETTLEMENTS.....its pennies on the dollar of your original investment. I am simply a realist here. I AM NOT SAYING FECOF WILL WILL PLAY OUT THAT WAY OTHEWISE I WOULDNT BE LONG.
regardless its good to have shareholders who care to defend, I simply think prevention is the best medicine.
todays volume was a total of 700,000 shares at about 6 cents.i rounded up.....so move two decimals over multiplied by six is 42 grand....and for those of you who know how market makers work,,,they buy from you and sell to the other guy so the volume is sometimes hit up as twice what it really is,,,,its fair to say that less than 35grand traded hands today and everyone is so excited...talking about big blocks................excuse me for being a realist.......and respect me for not accusing people as pumpers for doing so. the news was good if you wanted to rid yourself of some doubt going forward but thats about it.
glta