I think we all feel the same as you , however before the re rating we have to accept that after the cap raising's its had , the stock that got offloaded in 2014 and which was mostly purchased by those connected to this forum that we are all overweight - In my case very much so and now add another 20% more for the rights issue. We have experienced the sheer volume of the placements before and they and many here will have to hope that a new audience has arrived.
Yes I think there is that audience but you have to accept that its going from a micro cap of under $40m to around $106 million and only Bell Potter reports on this at the moment.
So Firsova and I certainly believe its $1.00 value but to get there we need to go through this huge CR which is in fact around 120% of its existing size. I ,(cannot speak for rest) believe it will drop initially until it gets picked up by triggering various trawling processes - firstly being of a size above $100 million. By presenting , by others spreading the news ...
Do we believe its worth a lot more than it is today - yes. will it be re rated - yes - Its just about the timing.
PGC Price at posting:
71.0¢ Sentiment: None Disclosure: Held
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