Shares on issue post raising is approx 700M? @16c M/Cap is around $110M with $35M cash. EV = $75M This level of EV would be normal for a stock (eg Gold stock) that is aiming for future production of say 50k ounces or $50M profit per year. CAP is going to be $500M/1000M range profit pa. One would imagine 300M/400M EV at this stage would be closer to fair value, not 75? Junior explorers with no production in sight are valued higher than this!
CAP Price at posting:
15.8¢ Sentiment: Hold Disclosure: Held
