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Invictus Energy (ASX:IVZ) has received a fairly warm reception from an investor base you could perhaps call fiercely loyal, despite ultimately stating its deal with the Qatari Royal Family now won’t be finalised until December. Or at least, that’s when the deadline for the deal has been deferred to.
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Which raises more questions than answers, really. But this apparently didn’t bother many users on HotCopper, holding Invictus, too much: The fact prices clocked green in the second hour of trade was definitely the main thing, especially after a trading halt late last week left some doubtful of what Monday might bring.
(That followed a decline for Invictus late last week when the market was perhaps reminded the Qatari deal is valued at 9.5cps, something I could have been clearer about when I wrote, but which shook confidence in a price above 20cps all the same.)
So far, the fruits of Monday haven’t been bitter. Not particularly sweet, either, but not bitter. That’s also kind of the main thing, too.
But for anybody willing to realise critical speculation doesn’t actually create bad juju cursing a stock, it’s worth unpacking what exactly Invictus was trying to say on Monday because it isn’t particularly clear.
“Deferment of the placement, aligns and synchronises with the timing of AMH’s next phase of its strategic focus to invest into a broad range of sectors within the African economy, including investments outside of the hydrocarbon industry,” IVZ ultimately wrote of the Qatar deal being pushed back to (as far as) December.
What does that actually mean? Those willing to be brave enough to dare speak critically of the company in the comments sections did pick out the word ‘synchronises,’ because one is literally left to imagine what that means.
Presumably – this is my go at unpacking it – the Qatari Royal Family would presumably be more interested in scouring the area for their various investment-minded applications, and then signing off on all deals struck in Zimbabwe, assuming there are others, at the same time.
At least, that’s what the language reads to me. And then there’s this quote from company chief Scott Macmillan: “Both parties are positioned to capture the potential opportunities currently under negotiation.”
Make of that what you will. Still – good luck to all holders.
IVZ last traded at 18.5cps.
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