I looked at the volumes of the last two weeks on a weekly chart since the low of 0.35 they were 24m and 28m and very unimpressive on the chart . In comparison in the week 5 Mar 81m, 12 Mar 69m. See chart below
To me this rise is not about accumulation but a selected targeted upwards push. My recent hourly chart seems to back this theory up.
As a long holder I shouldn't be complaining about such a strong rise from 0.35 but suspect that its artificial. If the push continues then 0.50 could be possible.
I fully believe that the LDA capital call will be made soon. Once completed let see how sustainable this rise is.
Marketing have been cranking it up unsuccessfully for years and on the last few years of results they should have been cranked out the door.
Lets see if there is a LDA capital call in the coming months. Then we will look at the revenue in the next quarterly report due late July. I think that it will need to be upwards of $5m to draw even the slightest bit of attention. Last quarters revenue from customers was $US40k I wonder if marketing can crank this up twenty times to $US800k.
I am long term confident that significant revenue will eventually occur, my first yardstick will be when the 22m annual cash burn is neutral . but when, 1 year , 2 years or longer up to 5 years.
I would very much like to be proven wrong about this forecast.
We shall see? DYOR
cheers Lies
BRN Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
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