I think
@AaronP747 chart shows a little better with clear breakout for the bulls.
If we weren't in DD period I'd say a test on ATH would be imminent. However there's a fair chance we have some churn in value area from the POC to around current level.
This range sits around 3770-4100 for REN.
A few other things to ponder...
Firstly, REN close is AUD equivalent $3.71
This is around old ATH level for RLT
This level is just outside RLT value area for 2022
With the POC being $3.30
I would be very happy if our own 'churn zone' was between $3.30-$3.70 but a lot has to happen before we know the outcome of this.
Lastly, I know everyone just assumed that Ivanhoe would smash the sp to get themselves a better deal. Although most didn't even think that sp manipulation won't get them across the line.
The finalised price is a placement - this means Stef has to agree to give them the shares at that price.
Did anyone think that the current macro events may bring about more investors/funds that are will to pay well over and above mid $3's?
As macro puts increasing pressure on gas/helium supplies more buyers circle and the pressure to keep a lid on Renergens value will become increasingly difficult.
I know a few people didn't like the DD period prolonging the inevitable but did any think it may play into our favour as we come to sign over the contracts?
Just a thought but we all know Renergen is worth a lot more than our current value - perhaps we might just see that reflected in the coming deals.
First deal should be happening very soon with CEF.
From memory they valued RLT at around $7.20 (my memory is pretty dodgy so happy to be corrected)
Could we possibly see any deals go through at this level???
As I said, a lot needs to happen for these deals to go through and we know to expect volatility but at the end of it all we will see just how good our CEO is because he is the one standing his ground and signing off on it all.
If Stef doesn't allow the sp to dive then you can all sleep well knowing your investment is in good hands and will be worth multiples in the not too distant future...
REN daily below
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