I agree that it is unlikely to go to $0.02 but I don't agree with the logic. This company may well have cash but they also have a plan to spend it. They have spent plenty of it before. Shareholders will happily let it fall below 2c the minute they think that history is repeating itself.
So the only thing we can hope is that the cash yields big finds that can profitably be extracted- even if the gold price were to fall. If not, every sensible shareholder should be finding another opportunity.
This is a punt.
sp price, page-44
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Last
14.0¢ |
Change
-0.015(9.68%) |
Mkt cap ! $40.11M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.0¢ | 14.0¢ | $4.409K | 30.40K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1700 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 6000 | 1 |
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| Last trade - 15.44pm 05/07/2024 (20 minute delay) ? |
| FML (ASX) Chart |