Purchased some more shares last week in the .102-.105 range. That brings my average up to a little under 7.2 cents per share. Wasn't planning to buy any more shares after my last post, but it is kind of hard to ignore the potential upside here. That should be the end of my accumulation.
Built a position as rapidly as I could at what I consider attractive valuations, in case the supply of shares dries up and/or some significant corporate development occurs. Overall risk/reward seems excellent to me: STJO is pretty much off the radar screen of most shell investors, STJO looks very attractive when you do in-depth valuation analysis/comparison with many recent popular shells/RMs, STJO management generally seems to have been shareholder friendly in the past (kept dilution to a minimum).
All things considered, I look at the STJO shell as a potential swing-for-fence kind of play. Just depends on the nature/quality of the RM and how it gets structured.
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