FIN was tracking along at 2 cents, and then somebody last April...

FIN was tracking along at 2 cents, and then somebody last April 2021 bought 140 million shares and it rose to 6 cents, then retraced to 2.5 cents, and now is at about 3.5 cents.

It's a good project, with some good experienced veterans having been brought on board, but are they here for the long term, or for a superannuation top-up?

The project is next to established Mitsui which has been operating for over 20 years.

And then there is BCI which is also developing an identical project within the region, and who has listed it's capex at about $1.4 BILLION dollars by the time it is in operation.

So what are the chances of a $20m market cap company like FIN raising $1.4 billion to complete construction and get into operation in about 6 or 7 years, and then spend 4 years (or a lot more) paying off the loans, meaning that realistically you will be looking at a first profit in probably 10 to 12 years? It's a long wait, and these current old industry veterans will probably be long gone by then.

However, not withstanding all these problematic issues, if it does progress over the next 10 years, then the market cap could probably increase in line with BCI and go from $20m to around $400 million, but then again, how many shares are likely to be listed if it gets to $400 million. Still, over 10 years of growth a patient shareholder might see a Disallowed here, it's certainly in the right global thematic. I'd suggest for a young punter at 25 years of age, or 35 years of age, it might be worth throwing a few dollars into this one and waiting ...... and waiting.

Good luck to the company though, highly speculative, and I'm not sure it will ever produce, and certainly not in the impending inflation and interest rate cycle, but perhaps one day, perhaps a decade down the track, because it's in the right space, so who knows. All we can do is wish it, and it's people, all the best.

Gw