AJM Chart, page-2546

Not much of a lead in from the US after the long weekend over there.  Very thin trade in Altura that saw a close of a bit under A$0.47 after hitting a very brief high of a tick over A$0.50.  

I get the impression we are floating along waiting for the announcement that production has commenced (or at least the machinery has started up in pre-production).  The most recent announcement (8/1) talks about the site only requiring minor installations in the coming weeks.  Start up could be, a week, a month or maybe two months away.  It cannot come soon enough for my liking.  

We are also waiting on more drill results and that will add to the mix.

Until the timetable firms we will be looking at more sub $100 trades and shorting.

Around mid March we will find out where we will be in the ASX.  I am very confident of the ASX300 and hopeful we can leap into the ASX200 at the same time.  

As the ASX200 stands our MC is greater than the bottom 16.  The next 100 companies have been moving too though.  

https://www.marketindex.com.au/asx300

We currently sit between sirtex medical and resolute mining.  This would put us as the 207th ranked company but that is not allowing for any companies (such as Altura) who have grown significantly from a non ASX300 position and who are now looking at ASX300 or ASX200 inclusion.  I doubt there would be many of those but I don't have that data to hand.

As of today, the indicative MC for inclusion in the ASX200 looks to be around $919m (just below where Ausdrill sits).   I acknowledge much can and will change in the next couple of months but IF and it is a big IF, Altura can get to a MC of around $1050 that would put is above the bottom 10 ASX200 companies and would probably see us in the ASX200.  That equates to a share price of around $0.58.  I add that the Beer target of $0.63 would see us with a MC of $1,142M and that should be enough.

At any rate, we have some time to wait.  If we do miss the ASX200 rebalance in March we can be pretty sure, all things going as planned, we will make it for the June rebalance.  

GLTAH