Penny play. Abundance International's warrants. Massive discount to mother shares. so, V cheap. Strike price 2.0 cents, warrants now only 0.8 cents, so means total value = 2.8 cents. However, mother share trading 4.0 cents. Can wrt be a multi bagger?
Look out for Rex and its 1H2021 results, which should be great.
most recent news: REX bought North Sea old oil field, paying 42 million -- very cheap at today's oil price. Rex will use 2.5 year bond to finance. At 3Kplus barrels a day, the purchase will be fully paid up from the oil sales within a year ...the rest of it is pure $$$.
REX buys the Norwegian stake for 42 m usd. The target generated 21 m usd pre-tax profit in 2020 based on 42usd oil price. Now, oil price this year 2021 has been much higher, perhaps around 60 usd average in 1H2021. No need a genius to see how fast the purchase can reap returns.
what's striking is that, under Norway law, the purchase will be dated back to 1 Jan 2021. Means: the target's cashflow till 4Q2021 completion of acquisition will be used to offset the payment of the usd42 mn.
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