GEV is a highly speculative stock. Probably not yet a day traders or short term traders play as there is lack of institutional presence or interest at the moment. USD 60m was spent to desing GEV's core intellectual property "CNG optimum" over a period of 30 years. After Maurice Brand and his team formed GEV 3 years ago, they have raise AUD $25m and ticked many boxes and taking the company to the right direction for commercialization of cng ships. For example, ABS approval, sorting ship builder Cimc raffles, STL provider ( a Norwegian company) , company that will construct loading and unloading terminals (CIMC enrich), appointmented
ClarksonsGlobal for Structured Finance and Equity Advisory services for their first CNG project in Brazil.
Now if you look at money spent so far and Present MC 18m it definitely looks value at present price. I actually thought the same when the MC was 60m. Never thought I'll see 18m MC specially after achieving so much and when so close to first full project. Now if company can successfully pull out a deal , anyone who even bought at over 40c will be in profit. That's my opinion, I believe management is more than capable to deliver what they are promising us. That is why I am holding and recently topped up.
Having said all of the above, things are bit slow now due to covid situation. The people they are dealing in Rio and Houston are working from home,so not a lot of traction going on. However, company assured despite all issues going on in the world now , their partner in Brazil still on track for oil and gas production in year 2024. There are other multiple projects in Brazil and US that are in advance stage. Opportunities are also in PNG (once twinza gets its petroleum development license)and India but that may take some time (we'll know in November after US election).
If someone believe in GEV story and management ability,they can buy and hold until 2024 when cng optimum ships will be transporting gas in multiple regions. Every time I talked with any GEV director, I felt confident that these guys can deliver.
Please feel free to ask me any questions you may have.
