On your words, “A nice bit of cashflow prior to EOY.” does not...

On your words, “A nice bit of cashflow prior to EOY.” does not make it patent that there is more than just cashflow to give the SP a fillip. The way FRI does its accounting means that on settlement, revenue and profit are recognised.

Euroz covers FRI. There is probably a more recent opinion available to Euroz's clients than the most recent one that can be seen on FRI's website. A more recent opinion would recognise the dilution occasioned by the capital raising. Anyhow, the table below shows the then ruling SP, and Euroz's target price as of the dates provided.

$0.80 24th August 2017 $0.93/sh
$0.92 25th October 2017 $1.22/sh
$1.07 5th February 2018 $1.25/sh
$1.05 21st February 2018 $1.38/sh
$0.95 March 2018 $1.37/sh

I do not have an opinion of my own, other than a value, “north of $1.00”.

I took up the $15K share-purchase, option, but to pay myself the mandated pension that I must draw out of my SMSF before 30 June 2018, I'll sell $2K's worth this week. I remain bullish that the SP will rise.