Thank you for bringing IEV to our attention. From what I can see, it is quite undervalued.
It has low debt level (gearing ratio of 33.3%) and Share price is at 70% below NAV. The negative points are that the market cap is v small @ $16 M, so no fund mgr will help push up this stock. The dividend yield needs to be more generous to attract retail investors to buy & hold. It's now only 2%. Will keep this on my radar screen. Let us know if anything else about IEV is worth considering.
aug, sept CEO bought at 4.5-5.4 cents. If the share price goes down to that level again, i will consider buying too. I think CEO and other insiders can hold the stock, so if you are buying, may have to hold until... maybe next bull run, or when the oil price strengthens.
on the negative side, u saw that an executive director (Joanne) didn't subscribe for her entitlement of 862,500 rights in may 2015? Rights exercise price at 7 cents, she didn't want to cough up $60,000. Not confident of near term prospects of IEV>?
The share price has been gaining strength ever since IEV announced that UK has granted a patent to its proprietary product called MGPi. It emoves existing marine growth (hard fouling organisms such as barnacles and molluscs) on the legs of oil & gas platforms and jetty piles.
MGP-i has been granted patents by the US and China earlier. Amazing achievement and this is a high-margin product. Will IEV be able to clinch customers faster?
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