But the problem was they couldnt secure sufficient finance, they had some cost blowouts becuase of inflation and interest rates went up; increasing borrowing costs.
Also Regal bought in through the IPO, saw the above issues and traded out, pushing down the price over time. Since then there has been very minimal retail buying or selling. I don't reckon the directors have traded a single share - havent seen them in the substantials.
I think they have learnt their lesson from the costs perspective and the commodity cycle has turned the other way, so costs are coming down anyway.
If they secure adequate finance, and interest rates start to come down. I dont see why it couldnt trade back up towards 20 cents.
I personally managed to double down after that second report showing good earnings and profit and locked in about 3.3 cents.
Happy to just wait but will be watching their ability to finance like a hawk
DEL Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
