Agreed. Yes these are good announcements, but they were both flagged at the AGM as expected to happen, so would already be baked into the price. So no surprise the market did not react.
Yes, since June the price is more than 3x on the prospect of potential US sales. How quickly we forget. Yet not that many additional contracts have been signed to prove this is going to work. So even 17c is a good number at this stage as the US expansion plans still have to be proven. Whilst the expansion plans show their confidence the runs on the ground is still required.
Also, any of the recent CR's I've seen in my shares, the price has always dipped to the CR price quite quickly. Then dipped below in every case. Not really sure why, but it is normal. Expect this to continue at least until the 2nd tranche is done. So this does not worry me for AL3. In AL3's case the amount raised is a large dilutive effect, so still being around 17-18c is quite impressive.
I'm not sweating the small stuff, just waiting for the 50c+ when they land a large number of US contracts and maybe 1 or 2 in Europe.
AL3 Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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