yes rga1298, I am blind and failing to see and heed your altruistic advice. But if you are really the returned soul of José Pedro de Freitas you can then perform one of those magical psychic surgeries so I can recover my sight and see the light. The problem is that using his magical psychic power he cured many cancer patients and people with various ailments even while in prison but failed to foretell the timing of his own tragic death. Can a soul do better than a real thing?
That is why I said you are an an incompetent Soothsayer--not as competent as joeantfig who predicts the future with certainty by quoting $0.01. He is a great psychic like Jucelino Nobrega da Luz who can foretell the future without fail ; while you at best can only claim to be the soul of Zé Arigó or José Pedro de Freitas returning to save us from pending financial disaster. donotremember must be one of your students in training since as his name (do not remember) indicates he forgets the past and continually warns about fraud and the dangers of investing in a "third world" country. He likes to swim in the clear waters of the fraud-less "first world" country where honesty prevails and profits soar.. But I admit that you all qualify as Soothsayers with imaginary psychic powers. But to prove which one is the best you got to sell a bridge in the Nevada Desert. Which one of you can do that?
You are an incompetent Soothsayer. A Soothsayer does not look at the past but foretells the future. Can you tell us where the bottom is?
This is a highly manipulated stock and the financials are secondary in influencing the price. At this stage there is one and only one issue: At what price will the CEO make his second Buyout attempt to steal the company? I won't be surprised if the earnings is fixed just to accommodate himself.
In my view dual listing is a good move if a firm wants to have greater access to liquidity in case of expansion which has not been a major issue in case of GURE unless there is a significant NG reserve requiring substantial capital injection to maximize its exploitation. It is not a necessary move just to increase the price as there are other alternatives which the management has never shown any interest in adopting and implementing. Even in case of stock repurchase they did not take action few years ago and the last announcement which set the repurchase below $1.20 was hardly an attempt to raise the price and yet the company failed to meaningfully implement it when the price was around $1.00. The critical issue is whether the management is really interested in raising the price? They now say that they are and shall be considering various measures. I think dividend and and an active repurchase plan without a set price are the immediate steps they can take if they are serious about fulfilling their long neglected fiduciary responsibility. If there is no action on this front by June, they once again demonstrate that this last claim is nothing but another useless rhetoric which is the company practice and tradition; or was announced as posturing for other reasons that concern for the shareholders. Of course, the forthcoming event can raise the price but if these events, especially concerning NG, are positive as we are expecting then the stock will still be undervalued since such developments will raise its value far above $8.00.
It may go down much lower montecker but not on this news. Perhaps the next related news. This one is just about few dismissed accountants who refuse to sign a document and it is obvious that it is a set up to undo the merger or negotiate for new terms. I picked up 30,000 shares of NLST at $0.62 and $0.58 yesterday.
kingmoii, I agree with your assertion both about China and the U.S. You must have lost a fortune if you bought at high prices and if so you have my sympathy. I also lost money on VALV, but only few thousand as I entered trading it at around $0.30s and eventually sold my position at $0.21. I only enter trading these highly manipulated stocks at a very depressed price and have made good money on most of them including those which went private such as YONG and Herbon. I think GURE belongs to the YONG or possibly even Herbon category and cheap at this price range.
Markets are not rational and such thoughts are for novices believing in efficiency hypothesis and other fables such as price reflecting the stock value and the interaction between supply and demand resulting in equilibrium. The short term behavior in the stock market is irrational, driven and motivated by fear and greed and it is these sentiments which are manipulated to the advantage of those who use a rational analysis of this irrational behavior. Wall Street makes its money taking advantage of these short term fluctuations through its supply of analysts and pundits who provide the so called "rational" and "logical" explanations for real or concocted events. Read the news and analyses on this page and those of other business media and you will see that there is very little substance in much of it. If one is to be a successful retail investor one must be both knowledgeable not only about the stock financials but also concerning market behavior and the nature of manipulation; as well as a skeptical self-reliant investor following the Fat Cats and manipulators. I have been wrong on highly manipulated distressed stocks before and OIBR may well be one of them, but for now I have determined that it is a good buy at this price range and worthy of accumulation as the price continues to decline.
You have too much faith in SEC. They seldom prosecute any swindler of significance and Wall Street is full of swindlers both in case of domestic stocks and foreign listed stocks and ADRs. Less than one percent of these are ever carefully examined and only fraction of them prosecuted and held accountable which means minor fines and perhaps small restitution compared to the gravity of the crime and losses and hardly ever serving prison terms. You must assume a priori that you are dealing with swindlers when trading these types of stocks and the best indicator is the level and degree of manipulation. This does not however mean that you cannot make hefty profits by tracing their footsteps.
It has nothing to do with being brave. Today's news was a ploy, one in a series of attempts to undo the merger and I expect more. I have explained why I am buying with full understanding that OIBR is a highly manipulated stock and will have many ups and downs (more downs) before the dust settles. I had also pointed out that I expected the price to go lower and won't be surprised if we hit $1.40s or even $1.20a before everything is finalized. But eventually it could pay off big time.
The illegal trawler fishing has been a problem in the Indonesian waters for decades and billions lost because of it. as well as serious depletion of fish population and falling catch rate in the Arafura Sea. Most of the illegal fishing were undertaken by the Southeast Asian countries such as Thailand, Vietnam etc. but some of the licensed fishing were also complicit in these activities. There has always been public pressure to control these activities and the government which is difficult and costly but the government was taking a more active role in past few years by using its naval force to regulate as well as to find and confiscate the illegal ships. The situation was aggravated when two Indonesian naval personal were killed by people on a Thai ship on March 9, 2014. Since that time the calls for better control of the Indonesian waters and new arrangements for licensed fishing has been intensified in Indonesia. I think this issue will be resolved temporarily between the two governments but perhaps at a higher cost and under better controls and more responsible fisheries and some type of commitment from the Chinese government to move towards a better and more responsible regulation of domestic ships and fishing in the Indonesian waters. I think the Indonesian government is using this as a way of pressuring for better cooperation towards building a regulatory regime and enforcement. Ultimately solving this problem requires the cooperation of the major fishery partners such as China, Japan, South Korea, Australia, and New Zealand and a new regulatory and enforcement agreement. If there is a new arrangement and it is enforced by the Indonesian government with the cooperation of other governments, then in the long run it will be better for PME as it will reduce competition and improve the catch rate. So I see the problem being resolved in two steps of short and long run cooperative measures.
I wonder what would be the impact of these new boys joining the board? There has to be a good reason for the change.
Chief Detective Egghead and his top deputy Chairmanbarack and the rest of the investigators of Chinese Fraud and Corruption are working overtime to take the price down to 50 cent before the company goes dark. Of course they have been saying this for 5 years and have no shame in repeating it. Any idiot knows that if a company is to go Dark, its CEO will not publicly announce a value of better than $8.00. Compared to these wanna be detectives any fool looks like a genius.
I am not comfortable with the way this stock has been manipulated but my decision is based on weighting the risk vs. reward. I think it is a good buy at this level and if and only if the company problems are resolved we are looking at an immediate spike and a double at this price range with much higher prices on longer term. If the problems are not resolved, then the price will go down further but should still recover on long term basis because the company would still be valuable and would also become a buyout/merger target.
rmnew, I agree that the premium of 400% is very unlikely, but that is if a buyout was to occur tomorrow. There are several scenarios where one can accommodate both the Big Boy and the Big Bang Theories. I give you one of them since you like this speculative exercise. Suppose the trading behavior and the highly depressed price was instigated by an outside party interested in a merger/buyout without the Chairman's involvement and that the insiders were as much a victim as the retail investors for the manipulation of the stock and its depressed price. But the takeover would become less likely with the company following the strategy of acquisition with friendly associates and using the advantage of low prices to gain a majority position. Then a buyout by outsiders on the cheap becomes less likely and the company announces the NG find and a policy of improving the share price and mentioning the higher than $8.00 value. The Big Boys buy as many shares as they can in one day but must now pay well above $8.00 for the remaining shares if the NG discovery is viable and sizable since $8.00 is the value without NG.. Accordingly, a buyout by outsiders has to be at much higher price than $8.00 to satisfy the insiders or some kind of deal has to be made to reward them. If the company takes measures to lift the price and more good news generates greater interest, the market price at the time of the buyout offer will be much higher than $1.60s and the premium much lower than it appears today. There are two other scenarios along the same line with one assuming that the Chairman is involved.
Thanks for the free advice donotremember, but why should I follow the advice of a novice and an amateur? Your statement contradicts the whole history of foreign investment in "third-world" countries.