I spoke with Chairman James Kruger recently — very impressed with his credentials, connections, down to Earth style, and ambitions for CY22. Just wish I could pick up some more stock on market without moving the price around too much, a very tight sell-side!
Expect it to run to 20c+ ($20m MC) and form a new base there once we start hearing more from the company this quarter — particularly when the new level of cash-burn is revealed in the next quarterly (which will be very low given that virtually the entire team have elected to take options instead of a salary, with a 20c target).
ARC is at a $20m+ valuation (which is the other investment in the Capital H Active Portfolio) and I tend to think that PVL should be on an equal valuation or more (given PVL's bigger, more credentialed team and a larger portfolio of investments).
I also like the upside potential here for PVL (VC investments that could 10x) more than ARC (equity investments in fund manager affiliates that scale gradually). As such, I am moving my investment in ARC ($22m MC) across to PVL ($12m MC).
Cheers,
PVL Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
