Will be interesting to see if another leg of buying from this ASX Small Caps presentation tomorrow will hold the SP at circa 10c. I have taken half of my holding off the table at 10c in recent weeks to hedge bet on a retracement back to 8.5c. I would like to see the March 2021 highs (8.4c) tested and see how committed the accumulators between 8.5c & 11c are - I expect we will see some stock wash back out at 20% losses and be presented with a very good opportunity to buy back in the mid 8's. Here's hoping...
There is still cap raise risk but I am not wanting to be caught with my pants down (i.e. with no stock) if a funding/partnership deal is announced in the short term.. Hence why I am sitting on the fence with half of my original (circa 5c) holding just in case... It really is a bit of a precarious situation, on the one hand, great outlook and upcoming catalysts in a space/sector that has bee ignored for +24 months now (so still cheap compared to the cannabis bubble a few yrs back), but not enough money to execute any of it (at this point in time).
Is really the company making year the next 9-12 months (more important than the Phase 1 trials IMHO - they were not really the issue as there was high probability of success and why I invested)... Execution of funding will be the difference between a 5 bagger and a 20 bagger from here for current shareholders (i.e. how little dilution can they get away with now to secure funding to reach next catalyst that drives SP up and raise more at a higher price later).
Keen to see another update on the ongoing ASD trials. That could also come out just before a raise to get a last little SP bump.
NTI Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
