It's a very interesting stock indeed - risky as hell but with enormous upside potential (wouldn't be surprised to see them at anywhere upto $1 by year end - if they get things right). Their weapons have been receiving wide media coverage with positive feedback and ASX announcements appear to be coming from one of the most honest and concerned boards in Australia - in every update they stress speculative nature of the stock and its near-insolvency, launched conditional SPP to protect shareholders and continue to exceed expectations.
To me it's clear that they have a management team dedicated to maximising value for their investors - the only thing they need is for a white knight to recognise this and take a strategic stake in the company (say at 5-10 cents). It's of course still unclear how they plan to finance their expenditure, given that latest SPP raised only $2.6m, they would need a massive rights (and probably option) issue which won't be possible without a cornerstone investor's support.
Wait and see, wait and see....
*All of the above is merely my opinion...
Add to My Watchlist
What is My Watchlist?