.

a simpleton's chart below shows sp just challenging the 50 dma from below - red = 25 dma and black 200 ..... imo, the 50 dma needs to be pierced with impetus, and then with some luck, sp may surge to somewhere useful

Moving up, book looks strong.

Arbuthnot note:
"Less than three weeks since the last draw down (12.5m on 30th June) on their SEDA, Xcite has drawn down a further 4.2m at a share price of 1.567 (c.2.68m shares). The money will be used as working capital for the first stage production development at Bentley.
This announcement is a surprise given how quickly the company has again drawn down on this facility. There is a huge amount of uncertainty surrounding funding. We have no idea how large the capital requirement is or how this will be split between debt and equity. Xcite also has still to submit its development plan to DECC.
Given the high level of uncertainty surrounding Xcite's funding and development plan we are putting the stock under review until we have enough information to make an accurate judgement on valuation.

Arbuthnot were clueless when they were our house broker and are just as clueless now.

Its going up, thats all i am worried about., sod charts .

"sod charts" is not an unreasonable attitude provided you remember that a lot of peeps and computer progs follow them

After what you stated yesterday. I only said it to wind you up cynic.

Great to see some blue today.

Needs volume?

16.34hrs - 2,260000 sell ? 3.7 million

unlikely though i see total volume was >6m which is a hell of a lot

You did not sell out then cynic, 3.7 million.lol

Isnt it about time that the BOD gave specific info as to what the SEDA drawdowns are being used for or is it just for the ongoing running costs?

regards

Agree. It could be for the shareholders bubbly when the sp hits 5 +
some pr would not go a miss.

Investors need more information from the bod, how can the sp rise ? Other investors
on interactive investor ll are asking the same. How do they think an investor can make a decision to invest in XEL.

Not just some PR

The BOD have had 16.5 million in SEDA drawdowns in the last month, yet we have had no confirmation as to what exactly they need it for.

The danger being, investors money will not be put into xel and money will walk out the door. There are some very good other oil shares.

To be honest, I dont think XEL will be PI funded, with the alliance in place and yorkville onside, I think we will be scrabbling for the scraps.

The only other oily I would (and am) look at the moment is MXP and GKP.

TSX trading finishing very close to the opening

Very low volume though