I think its very unlikely this will go under 13c as the net asset value is higher than that, if they can complete recruitment for DFU then we should see results by the end of the year. Now that they have adequate funds, they will be able to add more resources to recruitment.
These are just my thoughts and there is absolutely every possibility I am wrong, it won't surprise me if management fail to execute on anything and use up all of the capital in fruitless endeavours. This is why I only invest a small portion and have strict entry and exit rules based on intrinsic value, not perceived value.
If I was a long term holder here looking at a 80% loss, the smartest thing to do is to sell and leverage the tax loss offset. You are wasting your capital being invested in here.
Cheers
CYP Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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