hisah wrote:Nabwire wrote:Anyone know why Simba Energy has been hammered of late? Cant get much info on it. Is this a buying opportunity or a falling knife? Or just insider pump and dump trade?
Wow! 45.8% price slump since May 28th. Unless the Mali deal has gone really bad, I too can't figure out why the sizable price dip. One of the reasons as to why the share price has slumped over the past couple of weeks is because of the Old Park Lane Capital which valued Simba's share to be $ 0.21 and this is right after the release of the Sproule report. Earlier on, Ubika research had valued it to be $0.81 which leads me to conclude that they might be looking for a joint partner who can finance them and Old Park Lane Capital might be wanting a joint venture with Simba hence big corporations like Bank of America Merrill Lynch, Pinetree and one of the director's of Pinetree have been dumping their shares like crazy only to buy them at a lower price. In other words, they have been short selling.
http://www.smallcappower...c/research-reports.html
http://oilbarrel.com/med...loadable_file/38409.pdf
Also, AOI's price declined meaning that its not just Simba Energy Inc thats being affected.
But lets wait and see what happens after they:
(a) Release the second report on the Kenyan Block they have.
(b) They get a partner later this year.
(c) They start drilling next year and hit a jack pot.
In the mean time, I will just continue accumulating and holding its shares.
Energy.