At a market cap of ~$28M, we are only valued at ~$10M more than the last cash injection from Kronos.. We still have $5M in the bank (or did as of the end of April). We also still have Wim 150 on the books and that is worth at least $5M (per the Astron deal), perhaps up to $10M at todays prices.
Either the technology is worth only nothing, or these shares are trading at a ridiculously cheap price. The market is valuing the technology at less than $15M ($28M market cap - $5M Cash - $5M WIM 150 - whatever Kronos funds are remaining - liquidation value of the plant (say $3M). That is just a little more (perhaps less) than one years earning from the plant, assuming $14M.
With Kronos on board, I think we are going to get a plant, and its likely going to work. If that's the case, Tell me its not a bargain price right now.
We just need to hang tough - good news typically follows a terrible share price...darkest before the dawn...just like how we bounced from 3.1 - 10.5c in the last run.
Only other things I can think of is either someone needs cash again, tax loss selling (you only get a bit of the loss back folks), or that someone is trying to flush the bottom feeders out - like JWT alluded to in his post a little while ago.
However, MT has to do something to calm the market. we need some sort of decent update on progress. The share price is appalling.
FG
APG Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held