Significant news is expected in January 2016 that will have an impact on the share price.
Shareholders generally like management to have a stake in the business and WRES Chairman Michael Masterman has over 25% of the shares and throughout 2015 bought additional shares with the most recent being:
- July 2015 46.6m @0.30 = £140,000
- November 2015 15m @0.50 = £75,000
With the following good news expected in January it would be reasonable to assume the share price will not remain at the current level for much longer.
- Parrilla metallurgical analysis.
- JORC – reserves will increase from those previously announced.
- Finance news ($16m to bring Parrilla on stream)
It wouldn’t be a surprise if we have an RNS regarding another major shareholder taking a significant holding in the business.
It remains to be seen if Northland Capital Partners target for the share price of 1.1p is increased after JORC code classification released.