If you can hold out into 2017, the water diversion project should be completed. The 5 m3/sec will go along ways toward securing the ability to adequately supply the Canteirra reservoir service area. This should reduce the need to offer the bonuses for curtailing use and should help restore bottom and top line growth.
Sold a few Jan $5 calls but I understand your feeling of capping the upside for a few percent. I'm seeing a lot more respected investors saying that Brazil equities are reaching attractive valuations. A 75% haircut will do that. Based on the long term technical analysis I feel like a solid support exists in the mid $3 range. Hopefully we do not revisit it. From what I can see of the charts this is one of the more lengthy downturns.
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