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gulfsands on the move again

It seems that you can’t keep a good (or crazily undervalued!) stock down…

Gulfsands shares are up again this morning and on good volume too. This is interesting considering the veto-ing at the UN meeting last night by China & Russia of further economic sanctions against Syria. Perhaps the markets smells change is coming and the Assad regime is about to enter its last days. 

Consider below from Edison Investment Research –

Upside for resumption of Syrian activities – core NAV 493p
In normal circumstances with a continued business in Syria, resolving the crisis could
unlock significant upside based on the current share price to our core NAV, backed by
a strong balance sheet with net cash of $124m (31 December 2011).

A break of 135p and it looks like a run to 160p is on the cards. Much more of the strength seens this morning and, as per our assessment yesterday, we would expect an announcement to be forced by the LSE.

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Swen Lorenz: