Reconnaissance Africa(RECO)

I don't think it has anything to do with the stock. It is the typical environmental attack on oil&gas. If you read carefully they are really saying there is human rights abuse because they could hurt the environment affecting humans.

Just tricky headlines to mislead people

Don't like that news, the reason why it's down,

Post says Reconafrica accused of human-rights abuses

2024-04-11 08:35 ET - In the News


The Financial Post reports in its Thursday edition that human-rights lawyers want an investigation into Reconnaissance Energy Africa, alleging the company has committed several human rights abuses in Namibia. Postmedia's Matt Scace writes that on Tuesday at Parliament Hill in Ottawa, the human rights program at the University of Toronto requested the Canadian Ombudsperson for Responsible Enterprise (CORE) -- a third party office responsible for reviewing alleged human-rights violations by Canadian companies -- investigate Reconafrica. Following a "fact-finding mission" in Namibia, the lawyers found "flagrant disregard for the welfare of locals and the protection and sustainable use of resources in the Okavango region," said Nabila Khan at the University of Toronto faculty of law's international human-rights program. The program, on behalf of Saving Okavango's Unique Life, alleges the region's only water source had been potentially contaminated, that Reconafrica confiscated land from locals and its activities have destroyed several native forests while conducting seismic surveys. While declining to comment, Reconafrica has previously defended its operations in the region in prior reporting by other news outlets.

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Financing at $0.90, that's why the stock was down since last week, bought some more at $0.89 !!!

ReconAfrica arranges $10-million bought deal offering

2024-03-21 23:36 ET - News Release

Mr. Brian Reinsborough reports

RECONAFRICA ANNOUNCES C$10 MILLION BOUGHT-DEAL PUBLIC OFFERING

Reconnaissance Energy Africa Ltd. has entered into an agreement with Research Capital Corp. as the sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 11,112,000 units of the company at a price of 90 cents per unit for aggregate gross proceeds to the company of $10,000,800.

Each unit shall be composed of one common share of the company and one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $1.15 at any time up to 24 months from the closing of the offering. In the event that, at any time four months and one day after the date of issuance and prior to the expiry date of the warrants, the moving volume-weighted average trading price of the common shares on the TSX Venture Exchange, or other principal exchange on which the common shares are listed, is equal to or greater than $2.50 for any 20 consecutive trading days, the company may, within 10 business days of the occurrence of such event, deliver a notice to the holders of warrants accelerating the expiry date of the warrants to the date that is 30 days following the date of such notice. Any unexercised warrants shall automatically expire at the end of the accelerated exercise period.

Lets see if a million $ promo does anything to the stock

VANCOUVER, BC, March 18, 2024 /PRNewswire/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces that it has engaged the services of FTB Capital Inc. ("FTB") to conduct investor awareness, advertising and marketing activities by distributing public information provided by the Company regarding the Company's business to various media outlets (the "Publishing Agreement"). The Publishing Agreement is valid until December 31, 2024, commencing March 18, 2024. FTB will be paid a fee of US$995,000 for its services. In addition, FTB will be granted two million options in the Company at a price of $1.10.

I'll go in for 8.50

My prediction for Recon Africa for 2024 is $4.23

The odds look good for a discovery this year. I will go with $6.15

Thanks Junglist, reminded me to get my pick in, I go an even $5.00

Put me down for $4.15

I go with $5.20

Going with $5.79

I'll go with $8.00