I agree with your points, except I believe that the scope for Ortahaza is very limited, and certainly exhibits none of the upside of the O.D project.
The O.D project is a long shot, but, if successful, will justify a market cap upwards of several billion dollars.
I too am in the red for GRK/OA, but it genuinely does seem a worthwhile bet. I would give them, roughly, a one quarter chance of supplying O.D with electricity, but the upside justifies even a 75% failure probability (at least by my rough calculations) based on the current market cap.
GRK remains a good gamble, and a weak investment of higher risk.
5c would be real bargain zone pricing, and would easily rate the company as a strong speculative buy.
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