1) The wells are duds 2) Years behind original time frame 3) Still have yet to prove their technology 4) Profits are probably around 5 years away 5) Investors losing patience and selling 6) Current market & global economic conditions 7) Possible further dilution if a future capital raising occur.
Unfortunately as much as I would love to see this project up and running the short term trend is probably still down.
I was thinking there was a chance it might get to 40c, but it surprised me to see it fall down to 37c. If the ASX was to fall over the next few months, could GDY get down to 25c?
Despite this, if investors are prepared to wait many years for a good return in shares, GDY would offer this over say 5 years. But so would property which is probably a more predicable investment.
Butchy.
RNE Price at posting:
37.5¢ Sentiment: LT Buy Disclosure: Not Held
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