My thoughts are that as interest in the geothermal secor grows, people are paying more attention to the smaller players. When you look at the market cap of GDY vs PAX for example GDY has a cap about 20 times larger. Sure they are way ahead but the tenemants of PAX are comparable in quality (though im not really qualified to give a solid opinion on this) and they could possibly get power to the grid faster than GDY out of their limestone coast project.
This is a big sell down, in a market like this it only takes a few sellers to cause a sustained slide on panic and margin sellers but maybe there is a spanner in the works. If there is a spanner i think it will quickly get to $1.30. We will see Wednesday.
The options are very interesting at the moment, as tempting as 6c options are, if GDY < $1.50 at expiry that is a 100% loss.
RNE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
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