Source: Ron Struthers
October 25, 2023 (Investorideas.com Newswire) Ron Struthers of Struthers Resource Stock Report looks at Greenbriar Capital Corp.'s chart to explain why he believes it is a Strong Buy.
Entry Price: CA$1.15
Recent Price: CA$1.14
Opinion: Strong: Buy
Greenbriar Capital Corp.'s (GRB:TSX.V; GEBRF:OTC) stock has been inching higher since its bottom and will probably continue with today's news. GRB announced the planning commission will meet on November 13 to approve the Sage Ranch development. Nothing is done until it's done, but this will mean strong revenues for Greenbriar in 2024.
Sage Ranch will provide low-cost entry-level homes that will not be affected by any downturn because it is exactly what the market needs and wants at this time. It is a great location and near large military operations that are becoming the theme of this decade.
Jeff Ciachurski, CEO of Greenbriar, says in the news release: "The effort provided by both Greenbriar and the City of Tehachapi left no stone unturned to make sure the development is top of its class, innovative and groundbreaking to match the demands of a new sustainable world. Throughout the process, we tailored our work product for a final submission that would leave a legacy and provide no doubt that only a top-quality product would be provided. The city made all parties aware of the significant impact Sage Ranch will have on the exceptional quality of life in the region and the tremendous economic impact to the city and surrounding area."
And some more great news: Tommy Sullivan, Greenbriar's chairman of their real estate advisory board, is bringing an opportunity for the company to JV into his 1,361-acre-3,500-home sustainable subdivision in the fastest-growing region in Utah. -
This new project will give Greenbriar a 20-year runway of building several hundred entry-level homes per year and further provides Greenbriar the status of regional builder and developer specializing in recession-proof sustainable housing. Greenbriar and Voya have just re-executed the US$40 Million Sage Ranch funding agreement.
On the chart, there is some resistance between CA$1.05 and CA$1.15, so it might give a chance to buy some stock around these prices.
The next resistance is around CA$1.55, and I believe the stock is headed there next. A break above that would be a solid higher high.
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