RE:Next stepsA very, very small operation it maybe but what matters is the size relative to LCFS. If they can create $100 million in annualized free cash flow, market cap of $260 million, you tell me, what the right share price is ... (big IF...)
I agree, May 2024 Q1 results might be the big reveal, but there are earlier catalysts, starting with the closing of the ALA deal by year end and reaching full capacity on LCFS, hopefully by early next year.
Imperial has been known for a couple of years, doesn't seem to concern analysts with their targets for LCFS and TWM. LCFS has probably a 2-year head start, is very entrenched in the Prince George/Northern BC area, the overall pie, ie demand for renewable diesel is growing rapidly and they are targeting a payback period of 2-3 years for HDRD.
No growth in gas plants, but $1.6 billion in growth projects for LCFS, with regulatory approval of the RNG project in Alberta likely for next year and the renewable aviation fuel project, again heavily subsidized by the B.C. Government maybe next.