Well trying to pick a bottom for a share price is a bit like trying to pick the exact time a low tide occurs during a storm, but I think it is safe to assume that NFL has hit the bottom. It got down to 10 cents in January and it is still trading at about that price today.
If you consider the spike to 25 cents that occured during February you really have to think what the share price would do if they made some substantial announcements, but we do have to remember that they are the ones who will decide what will be announced and when.
Lets start by considering the annonucements we know are going to happen, starting with the quarterly report due at the end of this month.
This quarterly report will only be reporting up to the end of March. I believe we will learn little from this announcement due to the lack of sales we are likely to see.
The report that will make a difference is the quarterly report due at the end of July. By this time they should have all three glycerine refining plants running so they should get some positive results.
Other reports could cover the commissioning of the other two glycerine refining plants. These are not really required, as this has been covered in other announcements, but would more likely be used to mask other conditions.
The wild card here could be the announcement that they were going to start biodiesel production. There is some likelihood of this especially as the wholesale price of Diesel is approaching 20 cents a Litre more than that of Unleaded.
The support for NFL at the moment is amazing. The BUY side of the Market Depth was almost completely wiped out on Tuesday yet with millions of shares sold during the week it seems as strong as ever with the highest closing price since early last week.
We can also speculate as to who has a the large buy order open at 10 cents. I know that Devonshire Funds Limited have
bought heavily into SBI with similar tactics (or perhaps navygulf is investing in NFL again)
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