QIMC - Trying to sift through the noise (Opinion)
I just want to start by saying that this stock has suffered a massive chain reaction of destroyed investor confidence. From a clear overpump from redditors, Iran war oil fears pump, a company blackout fears dump, Hole 3 not being completed when investors thought it would be dump(during the blackout), PP financing dump, no holds dump.
The stock currently sits at 73 cents, below its price before it started drilling, and 17 cents below its Life financing. If you have followed a life financing you know these are common to cause a 30-50% hit in share price. This financing has closed at the end of April. (Before the deal was announced this stock had stable support at the $1 range)
I believe this has created an opportunity for short term investors and long term investors as a few major catalysts for investor confidence shifting are likely coming and free shares from the financing likely fizzling out with the high trade volume.
Some examples of expected news releases to watch for are these three.
In the Monday interview, CEO John K. informed investors that the team will now be concurrently collecting an iso jar mud sample along with the surface water measurements. These have been given to the INRS for testing and should give a more accurate data set. These will be coming soon for 300-600m
Next week we can likely expect an update on Hole 3 with its final 600-900m. Generally the system has appeared to feature better concentrations with depth and this will be the deepest the team has gone.
The subsurface energy grant, administered by Dalhousie university has its own website. On here they feature articles in a timeline fashion and it specifically has two articles that are linked to QIMC (no other company has articles on this website) The articles after are about their open houses, which highlight the anti fracking protestors and the community concerns. Currently the grant program should be in the phase where selected companies are working with the province to come to an agreement. I believe QIMC will be one of them. It’s not about the money value to me, it’s about the support of the provincial government on your project.
This isn’t a pumpers call to buy, this is merely a suggestion to watch the news surrounding them as these three collectively may defib this stock off “life” support.
TLDR: Watch for news on grant, Hole 3 iso jars, Hole 3 600-900m. These 3 might signal a shift in investor confidence that breaks the Life financing rut and a return towards $1+