I think they’ve timed this to perfection I also believe they are targeting exports to Canada by September.
I have their first crop 3 ton of cannabis worth $21m in revenue anyone care to elaborate on whether that is an accurate figure? I would imagine at least a 50% profit margin as well.
So reasons I believe the Price will go up and stay up:
1. Canada legalised marijuana recreationally
Tuesday just gone.
2. Hemp revenue is occurring
3. CannTab revenue will be on its way
4. They have a market to sell 3 ton of cannabis too From September.
5. They’ve stated the company is worth at least 8 cents with the cap raising.
6. The MCL shares are held in escrow for 2 years so the register will be tightly held I think too 20 held 54% of current shares on issue.
7. Will we get some joy with bauxite eventually
10-15 cents price target
QBL Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held