a few quick calculations
cash at end of sept quarter was $3m
sale of barr creek is $750,000
total cash is $3,750,000
total shares on offer are - 65,000,141 plus options of 24,615,866 = 89,616,007 fully diluted
so cash on hand divied by fully diluted shaes on offers gives a cash backing of 4.2cents approx
now lets say the total cash on hand has be dwindled down to $2m in the bank plus the sale giving a total of $2,750,000 now divied that by shares on offer gives a cash backing of - 3cents per share approx.
so its possible that the current share price is the cash backing of this company.
DYOR
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