Me too. Still waiting. You have to laugh at the price chart. Gap up, beat down for an hour. Very fast move up. Beat down for hours. Very fast move up. Best way to take it up without anyone getting on board. Nice algo if it's yours. Tough luck for the rest of us. Still not happy buying with oil being crushed. FOGL asleep and almost no volume on ARG. Hmmm.
Nice assets, great price, but article states 'Instead, sources said Meikles Centar was looking at already developed mines in the country such as Caledonia (gold), New Dawn (gold), African Consolidated Resources (ACR) (gold, diamonds)and Mwana Africa plc (gold, nickel and diamonds). '. Not specifically AFCR then. So careful.
Of course they are US allies and oil price drop can be used as a weapon. Apparently the US used this tactic to destroy the USSR's economy.
As for the Arabs, Saudi needs about $80 to balance its budget and pay for it's huge public sector. Other small Arab states have a lower threshold if I remember. Saudi already cut supply once the other week and may do again.
Difficult to know who is causing what. Pressuring Russia. Dire global economy. End of petro dollar. Pressure on US shale. So much going on to call it.
I'm still waiting with cash ready on the double.
Agreed. The next campaign is just a few months away, so there should be a good chance to make some $ very soon both here and in FOGL. ARG too if farm out happens ASAP and they get a slot. Problem is timing. With the oil sector getting hit daily buying at any price may result in a loss before the drill rally starts.
Ta. These boards are a better place for a sensible chat IMO, probably because they are quieter.
Brent just hit a new 4+ year low this second. If RKH rallies much more on this I'd be tempted to trim any position and buy more later on the retrace. Caveat is price may rise into drilling campaign, but FOGL hasn't shifted yet, so it's probably safe to do so.