@TycoonTerry , another key data point is that C79 IPO'd in Apr 2022 at $6.50. The price completely tanked on IPO and has stayed under since then until Sep 2023. So all roads point to $6.50. We are currently essentially been given the opportunity to re-partake in the IPO, almost 2 years after the IPO, avoiding the down cycle altogether.

There is a cluster of activity in the $6.00 to $6.50 range, with $6.00 re-tested 1-2 months ago, so my ideal re-entry point is somewhere closer to $6.00.The market feels awfully frothy at the moment, so $6.00 looks possible. But patience and nimbleness are key as the C79 price looks to have good support in this range and has bounced back sharply each time it dipped.

I wish I knew how to value C79 to get more science behind the step increases of the companies growth trajectory. My investment thesis is predicated on the fact that each deployment grows the company in a step manner, with minimal growth downside risk, until C79 gets closer to completing the deployment of the already-contracted units. By which time, the technology becomes the standard such that it drives the next wave of contracted units as the gold industry progressively exits fire assay altogether.

Discl: Held IRL and in SM

I have previously posted that after the capital raising around $6.50 I was using that as an assumption of fair value. Since then the market has tracked back towards that price.

In the absence of new news we will wait to see whether it continues to track lower or sideways. If the latter proves true I will continue to assume that the market see’s current value ~$6.50.

As previously outlined it is really really difficult to value a business like this, hence the above assumption.

future value catalysts to monitor will be execution risk of deploying more units and the pace that happens at