Daz - using Ardens chart and extrapolating, I get £3.70 per share with ethanol at $2.4/gal and corn at $4/bushel. That's not taking into account cost of debt and currency changes. It would be nice if Arden issued a new note, which they probably will now that the plant has been commissioned.
I don't think oil prices are going to drop much and the demand for renewable fuels will only increase. If a lot more ethanol plants come on line in the coming years, it is unlikely that they will be at the same cost base as the current plant, and GTL should have more margin to play with.
Price wise this will keep going up from here. With people back from holidays in January, it will get more volume and the reversal of the downtrend will be confirmed.
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