"I considered selling part of my holding and sensibly free...

"I considered selling part of my holding and sensibly free carrying the rest but I think I'll enjoy the ride with this one" - A Rooo 10Jan22

I was hoping for something more from the Dec21 Quarterly on 31Jan22 ... but we eventually got what amounted to a profit downgrade. In Oct21 Dave said that everything was hired out. The next month a contract was shelved.

The share price lingered back to hit 25c at one stage.

The WA lockdown of Feb22 didn't help any of the miners and associated businesses. Finally on 19Apr22 we were informed that Collarkeeper commercialisation had commenced. What it was really saying was that commercialisation had been delayed. Understandably though, with all the COVID commotion.

So they said last December they were hoping for sales generating $125k to $200kpm by Jun22. I imagine that has been delayed too.

The salient point is that "the wheels are in motion" but its been delayed by sometime.

At least investor interest was generated and the share price got up to the mid 30s again. This time I sold 40% of my stash, so I'm close to free carrying the balance.

The share price languishes now ... but as all world equities fall. Some 10k shares at 28.5c and then another 10k at 29.5c sold yesterday. Less than $6,000 isn't much of a market. Otherwise the course of sales have been around 35c.

Patience is required here. I can see the FY22 results not meeting revenue guidance.

If the Company does eventually announce it is generating $200kpm in Collarkeeper sales then its off to the races we go. I don't know what the costs of production/installation are but an additional $2m in EBITDA on top of the $3m of other businesses, could well push the share price past 50c (given the IPO was valued at ~7xEBITDA).

Considering the universal appeal to miners and exploration companies worldwide, that may just be a start. A share price of $2 isn't out of the question but that may take time and patience.

Interesting that Dave said in the Oct21 interview that they have other innovative products. He also said he'd prefer that the Company was viewed as a Tech Company rather than a mining associated services Company.

There may be some selling pressure come Jul22 as some of the IPO shares come out of escrow.