Fib,
Don't start pumping this one. Its a dead duck.
The current management were involved in purchasing 8 mongolian licenses for $8Mill. They have given up 4 and have stated the others have low prospects.
They now have $3Mill in the bank and think they can purchase something better this time around. They will most likely blow most of the cash buying something in which case they would have to raise capital at ridiculously low levels to explore. The last raising of $17Mill at 50c has resulted in nothing!
I suspect the recent lift in the SP is a result of the up coming AGM. The directors don't want to be grilled too hard after all. It is winter in Mongolia so there isn't going to be any exploration until March next year. This year was totally wasted. But everyone still got paid!
market cap = 1/2 of cash, page-24
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Last
$1.59 |
Change
-0.035(2.15%) |
Mkt cap ! $2.035B | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.60 | $1.57 | $5.947M | 3.750M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8539 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 167230 | 4 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| BGL (ASX) Chart |