First target price at $0.111 (recent high)
My personal analysis and opinion:-
1.) This week pull back to 0.086 due to share buyback mandate did not approved by new major shareholders at AGM, my personal view for this is actually show a good sign the new shareholders are mean business and not allow the management to use the company fund to support share price. Last two days panic selldown to shake out weak investors. Savvy investors would take this opportunity to accumulate at lower price now.
2.) After the recent disposal by the executive director. The CEO & the executive director had no more shareholding in the company. I treat this as a good signal for new major shareholders to push the price up. As there will be no more surprise selldown by the existing directors, since the current major shareholders are with higher cost at 0.125.
3.) Tested 0.086 at last few days and seem to be a good support at the moment.
4.) Based on recent announcement. The disposal of Japanese properties is expected to be completed on 20 Oct 2017 with proceed of approximately $38 million. $15 million will be paid for acquisition of GEM. The company will still holding $23 million in cash after the disposal. Further new acquisition or surprises could be on the pipeline :-)
The above just my personal view:-)