Probably some supply from the old shell would be my guess. It's also a new listing and the sort of mc where many traders wouldn't find the sector sexy enough (it's not lithium, gold, tech, for example) and serious private investors may want to see a few runs on the board before buying.
I think mgmt need to be given a good 6-12 months to begin to execute. If the current business under DD doesn't amount to anything, then there are other fish in the sea.
Once things start to progress, it may even be that the stock trades at a premium to peers, given the mgmt team have previous success in this field.
I'd be more than happy with 50% gains over the next 12 months, notwithstanding there'll be some dilution for the next acquisition; hopefully at a higher sp.
BGD Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
