Most of the shareholder base has just got on board at $2.55 so no reason not $0.80 also as I understand scaled back.
Leaves a bit of upside and also if a deal is done, 50%-100% premium range theoretically, share price could retrace to $2.43 - $1.82 and still be in the money at deal time. This is a bit of a parachute that most might overlook.
The diamond hands before the last raise meant no liquidity, you can see the volume increase since the 30th is no coincidence. Those selling have plenty on the sidelines waiting to get in.
The quality of data, cash in bank, hot sector and advanced pipeline makes this a perfect storm. Takeover likely by this time next year. Can’t ask for much better.
I see this meeting the liquidity threshold for entry into ASX200/300 in September rebalance where I see this launching from $5 to $10 by year end. Or am I being a bit conservative?
Research/Valuation, page-351
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