I totally agree with your thoughts. All looks very good IMHO.
Also the SP has held up well since the placement to instos at 2.3 c. I dont pretend to be a guru of this stuff, but this says to me that alot of the people who got the recent shares at 2.3 c have held onto them!!
If they sold out they could have made good profit immediatly without risk(and some may have).... but for majority to hold and turn down this easy profit, says to me that they are very confident of future SP rise.
Just my thoughts
Marvdog
NWE Price at posting:
2.9¢ Sentiment: LT Buy Disclosure: Held