Having written a piece just three weeks ago about Highlands Natural Resources (HNR) and the likelihood of it needing more cash very soon, todays news of a placing didn’t really come as much of a surprise to me.
Back in March I covered Highlands Natural Resources (HNR) and its announcement that it was diversifying into cannabis, as well as highlighting concerns over the high level of costs associated with running the business.
I’m sure some investors must have wondered what the directors of AIM listed oil and gas outfit Highlands Natural Resources (HNR) had been smoking when they announced yesterday that they were diversifying into cannabis!
Pot is clearly the new blockchain. Whatever. I do not pretend to understand this insanity. I am just too old. Anyhow the latest Primary Bid offer is from Highland Natural Resources (HNR) and if you want to play you can do so here.
If I say so myself, I called this brilliantly as a sell then as a buy then as a take profits. But where does Highland Natural Resources (HNR) stand now? I chatted briefly to the team at the show and they were brimming with confidence but for more detail over to Robert Price.
I very much hope that you all took my advice to have a Primary Bid flutter on Highland Natural Resources (HNR) a couple of months ago at 12p. The shares are now 25p. Read my original piece especially for the silly comments posted underneath it by all the usual poltroons. I await their apologies... So what to do now?
Highland Natural Resources (HNR) did an offer with PrimaryBid less than a month ago at 12p. I suggested having a flutter and with the shares at 21.25p offer I feel 100% vindicated - I met up with Dr Robert Price earlier this week here in Bristol.
Two weeks ago, following the results of Highlands Natural Resources (HNR) I advised getting out at 23.75p as the bubble appeared to be bursting (see HERE). Well done if you did as you could have got back in at 12p last night as part of the announced funding via PrimaryBid but the question is: should you have done? Hmm, I’m not quite as tempted as Tom sounded HERE but let’s take a look at the details.
No need to wait for the weekend. This PrimaryBid offering kicked off at 4.30 PM today and will close at 9.00 PM tonight or when £2 million is raised - the placing is in Highland Natural Resources (HNR). On the one hand we have been uber critical of Highland on the other this financing package with a massive private equity injection looks transformational. Worse still boss Robert Price has just called me and now I find it hard to be hostile to the man as he was quite charming. I am almost tempted to go for a small flutter as I shall explain below, but make no formal recommendation - here are the bare bones:
It looks like the game may soon be up for UK-listed, American oil stock promotion Highlands Natural Resources (HNR). In its prelims, announced last week, the company stated that it needs to raise funds either by issuing equity or third-party participation in its East Denver project.
