Comparing the SP gains to a few months ago isnt a fair analysis....

Comparing the SP gains to a few months ago isnt a fair analysis. With an offer price of $1.60 at listing over a year ago and having the company grow around 40% since brings the SP to $2.24. At the time of listing there would have been risk the company would fail or not achieve milestones set out in the prospectus. The fact that the company has beaten prospectus milestones should add a premium to the valuation. The premium from simply meeting prospectus milestones over a year should have been in the order of around 20%. With a beat on the premium I would say a 30% premium is justified. This brings the valuation in the high $2s. I'm in at $4.00 with top ups lined up for $3.40 and $2.80. The 200 MA is my base case price unless there is a negative report. I certainly wouldn't buy more at this price if I already held but it sure is a better entry point than a couple of weeks ago.