Since I first commented on the company Nov 11, 2019, Naikun changed name to Oceanic Wind Energy (NKW.V) and have a deal with Northland Power (NPI.TO) regarding the 400 MW Hecate Strait wind farm project. Since first proposed over a decade ago, wind turbines have increased in power generation from 3.8 to 15 MW. Costs have come down also, making electricity competitive with hydro, etc. So I feel Northland has a chance to secure an EPA. (Energy Purchase Agreement), with BC Hydro.
Since March 2020, there were three rises on good volume, with each rise at least reaching 100% gain, before scaling down. I like the upward step progression and Northland's impressive track record around the world. So I continue to keep watch on Oceanic as they will benefit from any agreement Northland makes with the Haida Nation. I feel the stock's recent rise is based on an anticipatory gut feel. The renewable energy sector is in the news, and will be for years. Also want to choose stocks within an industry which has a strong relative strength (RS).
Current stock price for reference--16.5 cents Canadian. (14 cents US, listed as NKWFF). |
