Cnt has been one of the good performers over the last 12 months with the stock moving up from lows of 6c in the last 12 months to 27c today.
The stock has been listed on the AIMS market in London for about 4 months and seen big volumes of shares leave the aussie shores to go to the UK which has created a move to 30c a few weeks ago.
Since reaching 30c and finding a line of sellers a number of the longer term holders seem to have knocked the stock down with a pull back to 27c in the last few days and very little premium on the options which expire in about 9 months.
Looking at this pull back one asks is it a buy on the pull back or is the stock going back to the 20c level prior to the aims promotion when the brokers got stock at 15c in a placement of 45 million shares.
Looking at the quarterly the cash balance is around 4.6 m which is pretty good ,however the revenue is nil and the burn rate is around 1.8 per quarter or 5.7m in the last 9 months.
If this continues a placement to raise cash between the exercise of the options and now is on the cards.
At a market cap of over $120 million this company must have serious potential in the deserts of egypt ,just how to value that is the million dollar question.
Any comments from the mining experts in the forum would be greatly appreciated.
CNT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
