Hi
@Bullish Event,
Count me in for an initial parcel of 550K.
To those who are following me on HC, you may want to take a closer look at this stock and in particular DYOR on the new management who are showing early signs of delivering shareholders a huge turnaround and potentially a multi-bagger from here. If one conservatively assumes that revenues might be only half of the stated '$1.5m per month' potential within 12 months (and keep in mind that this figure is only for SOL in Brazil), then that equates to $9m annualised.
By applying a conservative revenue multiple of 10 to this figure, the SP could be up around the 5 cent range pretty quickly (fully diluted). Note that this potentially conservative target does not factor in the huge upside from the new PGAS deal (Indonesia), Divan or other opportunities within the business that are set to be developed and / or deployed.
Looking at the charts, price touched the 50% Fib retracement level at $0.0155 via a small Chi-X trade late in the session today. This Fib level represents the halfway point between the recent low of $0.008 (touched prior to the flurry of recently announcements) and the high of $0.023 shortly thereafter. Today's sell volume was also much lower than the previous few days and 1.6c held for a second day at the close, indicating that support has likely been found and the recent selloff may have run its course (hence my reason to enter with an initial parcel at this time).
As usual there's always the risk premium to consider - especially with this end of the market - so (as always) please DYOR or seek professional financial advice before making any decisions.
GLTA
Cheers
Elpha
