Chartwatch, page-102

Pandev of all the posters here you come the closest to sharing my view. That said I have to say that I am a little more optimistic than you and I do believe that 1PG will get traction and will get the revenue to drive it. I hear what you say about 1PG having been around since 2012 but they were hardly ever going to make any revenue while Joanna was sitting in her bedroom writing code for the first version of the first platform. I think time of listing is a fair starting point because that is the point from where they could access cash from the market to get things rolling.....

But way back on the 27th march, two days after the top of $2.29 and before you even appeared here I posted my thoughts that 1PG had gotten way ahead of itself on a technical breakout and that a scary retrace to $1.30 was possible. Of course when I was telling people that the SP may drop by a buck I found that my comments were about as welcome as flatulence in an elevator.....I get that so I have tried my best to restrict myself to cameo appearances here and there. I feel a bit more comfortable posting again now that we are closer rather than further from my target price.

I remember way back in the day reading an Oxianna preso (now OZL). They showed the typical price path of a junior miner from discovery to production. There is initially a huge spike when the ore body is found and everyone is euphoric and back slapping each other and driving the price to crazy heights. Then comes the realization that there is a long road to building a mine and that there may be a great length of time when a lot of work is happening but nothing that will drive the SP up and the SP begins to relentlessly fade. Finally the mine comes on line and revenues start coming in and the price rises and eventually way surpasses the old spike at the time of discovery. I think to a large extent we can use that same psychological pathway here. A lot of people recognized that perhaps 1PG was a rare gem of a start up that might just go all the way. People got excited. The price went up 11.5 x the issue price. Then reality set in and the realization that the stock had a MC of over 300 mill and bugger all revenue and still quite some work to do to get the company firing. And thus we saw the relentless fade. But just as the breakout to $2.29 was a technical one there is also technical support at the $1.25 to $1.30 level. I reckon it is a fair bet that the price will build a base there for days or even weeks. By then whispers of revenue might be heard in the corridors of the ASX and at that point we might see 1PG start to realize its potential.

For your reading pleasure here is my post from 27/3/2015

http://hotcopper.com.au/threads/true-believers.2485583/page-4?post_id=14991272#.VW0729KqpVI

and here is a subsequent post I made on 19/5/2015 which tracks the progress of 1PG versus ELD. To date I have still not changed my view of how this will play out despite the fact the chorus of "Something is wrong" grows ever louder....and in fact when it reaches a crescendo then that will be the time to buy. That should coincide with that $1.25 - $1.30 band.

http://hotcopper.com.au/threads/chartwatch.2492289/page-14?post_id=15306780#.VW1CjdKqpVI