This stock will not go up in a straight line given whats happening.
a) The release of stock from the notes where people have had funds tied up & want/need to cash in.
b) People realising profits from 9c & jumping as theyre seeing it drop back
c) It is in limbo until DD is done. All being well with the DD, KRL is now a different beast.
Management has changed, the previous short term goals/milestones are probably now well off the radar for now & we probably shouldnt get hung up about these anymore. My view is that its a new game & the new management probably have a bigger fish to fry in the short term.
I am not happy that it has dropped back, but each time it has in the past couple of weeks I have bought more because I like the story. The sky isnt falling in.
They are doing a roadshow in Sydney/Melbourne this week & guess they will be talking about the new "make up" of KRL, assets etc. Hopefully they get some serious interest from insto's now its much bigger. This may absorb any more people offloading prior to us getting a big kick when the deal is formalised & production announcements come subsequently after that.
KRL Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
