The Speculator Posted October 8, 2008 Report Share Posted October 8, 2008 Here's an interesting stock, AIM listed Obtala Resources. Company is active in Tanzania with a suite of licences covering everything from nickle to coal to iron ore and gem stones. Company has a market cap of a little under £70M and the stock has risen from its list price back in April of 0.25 to it's current price fof £0.39. Not bad for a company that when you read the CPR not one result is mentioned and it would appear that little or no work has been completed over any of the projects. Granted that Frank Scolaro owns 40% and a second holder 35% with the top 10 controlling +90% it still seams odd that even in this market they manage to maintain or increase, with no results to support the stock. Any comments or views would be welcome The Speculator -65% and dropping! Link to comment Share on other sites More sharing options...
1waving Posted October 8, 2008 Report Share Posted October 8, 2008 Cash of £4.2m at the end of June and lots of prospective license areas, can't see any JORC or NI resources, looks like exploration has only just started. Market cap of £70m, unless there is an ace or three up the management's sleeves, looks grossly overvalued in current environment for juniors -------- Current sp may be down to 90% of shares in hands of just 10 investors. . Link to comment Share on other sites More sharing options...
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