COZ has been trading at a discount for number of months, and now is clearly in transition to a price more comparable to the other relatively cheap aquaculture stock, CSS. On that basis COZ should be priced at between 10 - 15 cents, depending on what is reported at the end of Nov for its annual report. But since the first Seafarms project was added to its assets early Jan 2014 and with no revenue from its recent acquisition of Coral Seafarms, there is considerable room for improvement in the future reporting (and thus considerable room for share price increase also!).
It is clear though, that to hold COZ requires patience, as it has moved up appreciably on minimal volume, after a fair amount of capping at around 6 cents. With very few shares on offer the price could move even higher fairly quickly, and anyone offering shares at around 8 cents and above is simply a sacrificial lamb, and will lose those shares quickly IMO - there is far too much demand for the paltry shares being offered. I think that until we get to a comparative pricing to CSS this demand will continue.
Project SeaDragon adds to the blue sky for COZ, and I can see it moving up at multiples to the current share price if the project were to ever get a guernsey, so buying shares at current prices for me remains an attractive option.
I remain very positive on COZ share price potential!
COZ Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
