With ~40 million in the bank now, and ~40 million estimated spend this quarter (it is usually more) there is no cash come Q1 next year.
On a duster the 52 week lows will be tested by years end - make no mistake about it.
Also, with a current MC of 1/3 billion now, how can a share price of 30 cents or a MC of 1 billion be justified? - there is very limited upside here especially with falling oil prices.
There will need to be another CR in Q1 next year at the latest - no wonder they raised so much cash when it spiked on the P&D.
This really looks like another MEO.
Validating MC - 1/3 and 1 billion
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Last
49.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $45.74M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 49.5¢ | 48.5¢ | $100.7K | 203.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 89898 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 2239 | 1 |
View Market Depth
| Last trade - 15.47pm 29/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |