Exceptionally High Volume Buying Friday 18 October, Volume 45 million Up +7%
I think we should be seeing a real recovery in the share price. With any luck back to the 2c where it stood last January before the dramatic fall this year. The reason for the fall I was partially the market's aversion to anything risky - small oil companies and many tec companies have had their sp massacred this year. Another reason I think was the market's fear that the company would not be able to raise the capital to take its projects forward, but this is now changing.
A number of projects are coming on stream this year and the cash flow should improve. So with a good story and increasing cash flow, Wasabi should recover.
The management is excellent and John Bryne has a superb track record. The product is good - I was looking at the FDSmidth website where they extoll the virtues of the Kalina cycle - and FDSmidth are major international project engineers.
The shares are virtually unknown to most investors, but with a good story, an international presence and growing cash flow, this should change. At present the marketcap is just $22 million.
I would hope that this could be x10 within 2-3 years.
WAS Price at posting:
0.6¢ Sentiment: LT Buy Disclosure: Held
