After the last director selldown, I bought loads more at 59-60c but reassessed the investment as a trading hold rather than a sit and forget position. So in the runup to $1.12 I did let a third go at between 90c-$1.12 for a couple of my accounts. I was planning to invest this elsewhere but the issue has led me to wait. I was not on the placement list. The spp will only partially replace the stock sold. 80c seems to be the new 59c, as a base level, assuming the order flow continues. The management’s aggressive “build for stock” approach is quite entrepreneurial, but they were right last time, and I for one expect them to have judged correctly again. If so, a significant move above $1 is on the cards this calendar year. I’ve pencilled in $1.30-$1.50 as my new target.
DRO Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
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