DRA 0.00% $1.86 dra global limited

Ann: On Market Purchase of Convertible Notes , page-3

  1. 7,486 Posts.
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    Aahh that explains the unusual C-note trading activity in the morning ... why did it take so long to announce ?

    If thats the case, by my reckoning the company is calling it a 5+c fair value for sp now ... and that kinda adds support to my near term techno 4 - 6 right shoulder formation call.

    Volume speaks wonders in this game ....... and we saw it recently in the fpos at 1.5 with a quick bounce thereafter and now followed by such in the C-notes (they are listed u know).

    I am starting to like this baby more and more as we go along and cant wait for POG to confirm-reverse the mid term D/T with a break above 880 then 930.

    A POG move to 1100 - 1200 early in the New Year would support a sp 20 -25 on PE 5 or so ... but since market seems to be rating it at around PE 2 or so, happy to halve that to coincide with next techno range call 10 - 15 once the 4- 6 is cleared.

    As I mused we will need a hot POG market to really drive it but a production rate increase from 80K to 130K (who said that in here?) coincident will certainly support the first tenbagger expectation from the 1.5 lows.

    Yeah on face value looks to be a better proxy to POG from here than DOM IMO. But DOM pays divvies and fundos take (sometimes false) security in high priced divvie payers. Maybe what DRA needs to do in a hurry is pay a 0.2 c token maiden half-yearly divvie or something to be re-rated again haha. Or with a million or so more bucks outa cash-kitty now they could bid for 50 mill shares buyback and really set the cat amongst the pidgeons. Why not ? ... they have decided to start that ball rolling with C-notes buyback at much higher equiv fpo prices to current market !

    Yes I too like what I am hearing and if nothing else, indicates to me DIRECTORS are confident that there is more upside coming in near term.

    OK, ON TECHNOS then it needs to do a little work 3.0 - 3.6 first IMO then fill the gap 3.6+ to take it into 4.0 - 6.0 right shoulder platform creation range in prep for POG's confirm breakout (Apollo hear our prayers haha). Really not much resistance showing in vol below this pivotal range atm.

    Lets see what the new week brings.

    All personal opinion and am patiently in my 3rd (of 5) tranches for core accumulation atm. Yesterday's thumbs up by the Board gives me a warmer feeling too. If it does what I think, I will prob start buying the traders at 6+ in hopefully the not too distant future.

    May the Golden Gods guide us on a winner for a change haha !

 
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