As noted in my earlier posts, I don't think it is manipulation either.
When a large number of ex-EMC holders want to exit the register in a short space of time, there is no need for manipulation... the share price is going to get a hammering (as it has over the past 6 months).
Once the ex-EMC holders clear out of the register, the FLC chart can start to take form ... how many more shares to go until this is complete... who knows. Although volumes have been much lower of late... 150k was taken out yesterday at 46 cents, but that less than $70k worth of shares ... looks big, but hardly a ripple. There was also evidence of buyer interest at 46 cents, it grew some legs and stood its ground right after the dump. A good sign.
At a market cap of A$190m, there is not much room left for it to go down. There are companies with only a patch of dirt and a piece of paper that have a much higher market cap.
There will be a detailed operational update accompanying the 4C next week (confirmed by company), this is what they will do going forward with each Appendix 4C. A 2018 revenue forecast should also be included, which will give an indication of how confident management are and allow us to gauge how they are going against analyst forecasts (CADMON and CANACCORD reports). Both analyst reports project profitability in Q1 2019 based on their projections, so if FLC are in line .. then they should be on track to meet expectations.
I emailed the company yesterday and they agreed that there is little appreciation/understanding of the strength of RWL's legacy business. I was told the bulk of 2018 revenues driving the path to profitability in 2019 will be non-MABR sales. Effectively confirming that there is significant upside if C-MABR /SUBRE sales do ramp up in 2018, but are not required to. There is also significant upside if they sign the US$100m+ Africa project, which is not included in forecasts or backlogs.
San Quintin can't be far off. Capetown is looking to magnify the global water crisis come April ... I am hoping this humanitarian crisis can be avoided, and FLC can play a role in the solution.
