Me too, I bought 200,000 shares, @ $0.83. Looks like we both know when the stock is at its daily low.. Are we 2 smart ones or what ??? Do you think IVAN will drop at least 2 cents on Monday ???
There's absolutely no news or speculation on IVAN's part to cause the drop.
More than likely a MM is driving it down to shake down the retail or someone just decided to give up and sell at any price. I caught most of the last minute selling, much obliged to the seller.
Current RBC research shows IVAN at the bottom of the jr.oil companies chart in terms of valuation and price of oil in the ground. It also has the least amount of debt and most of the oil among the peers. It is also discounted at 30% of Tamarack NPV, which is like bargain basement sale price. In short, if IVAN is not at a minimum a 6-bagger by EOY (this year), I will be very disappointed.
IVAN will report its earnings on Aug.9th, RBC projects it HALVED its losses of prior years on decreased payroll, so the projected loss is about 4.5c/share, which is more than made up with $12.3M cash infusion from Zitong adjustment. Another ~$4M is still due to IVAN from Shell.
I think you are spot on but we need some REAL news. This company needs to put either EQ or TM over the goal line before the market will give them any credit. They continue to burn cash on a daily basis and nobody will believe this story until a major country or company validates IVAN.