Whilst the volume is thin I can understand the share price on pink sheets post consolidation.
With US$130m in the bank, a contingent receipt of US$55m (which now looks more likely to be received albeit over the next few years) and a shot at 50% of a billion barrels in November / December, I think a valuation of A$2.50 is not unreasonable. Particularly with oil at US$75 per barrel.
I agree that the market may discount the valuation due to a lack of confidence in the CEO but good to see the recent Board changes. At least that will have everyone on their toes.
Far not far enough, page-30
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Last
47.0¢ |
Change
0.015(3.30%) |
Mkt cap ! $43.43M | |||
| Open | High | Low | Value | Volume |
| 45.5¢ | 47.0¢ | 45.5¢ | $82.32K | 180.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3500 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 125569 | 6 |
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| Last trade - 15.47pm 21/06/2024 (20 minute delay) ? |
| FAR (ASX) Chart |