Current valuation gives a marker cap of just over 100 mil....

Current valuation gives a marker cap of just over 100 mil. Looking back 11 December 2017, the company announced a letter of intent of JV with not much details, which turned out to be this JV deal. The trading range on 11 December is 6.4 – 7.4c from memory. That implied a market cap of roughly 100 mil back then. It was what happened before the cannabis hype induced by the government announcement.

Considering no more additional shares issued since then, it appears that current price is well justified. The cash was 8 mil at the end of September quarter, while cash burn is projected to be 1 mil as per last quarterlie. The sales stream is expecting to come this quarter. I believe current price is a good entry point assuming no adverse material info in the near future.