I never looked into this in the past because I just assumed the $35 price was for what would be effectively a different company (different SOI, different resource portfolio size/maturity, different U market, etc) and irrelevant to the present day even from a mkt cap perspective, let alone from a share price perspective. Had a look into it now and it seems in 2007 when the stock was West Australian Metals Ltd (ASX:WME) the price was actually 35c not $35 (perhaps an error on the slightly naive charting websites caused by the WME->MEY name change in 2009?), and the market cap was only $90M at the time. See the following thread https://hotcopper.com.au/threads/unbelievable.566425/ with discussion of market cap and share price, and this thread https://hotcopper.com.au/threads/ann-out-marencia-positive-uranium.560161/ where you can confirm that this was indeed discussion of the company holding the Marenica resource.
I sincerely hope we are not headed back to the cycle top November 2007 market cap of $90M as if those numbers are right that would mean we're going to a share price of 32c. In spite of broader market pain to equities in the near future I think the underlying thesis is bit by bit inevitably progressing.
Of course, this is a pretty quick analysis I did just now to check the claims about historic share price action, I don't put much stock in 2007 activity myself but I am open to being proven wrong on my low effort fact checking if your research unearthed different facts from mine
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Last
38.5¢ |
Change
-0.035(8.33%) |
Mkt cap ! $118.7M |
Open | High | Low | Value | Volume |
40.0¢ | 41.0¢ | 38.5¢ | $306.8K | 783.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 35259 | 38.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
40.0¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 35259 | 0.385 |
9 | 262948 | 0.380 |
4 | 53866 | 0.375 |
4 | 77102 | 0.370 |
4 | 75513 | 0.365 |
Price($) | Vol. | No. |
---|---|---|
0.405 | 51623 | 2 |
0.425 | 42355 | 2 |
0.430 | 45000 | 1 |
0.435 | 52100 | 4 |
0.440 | 53100 | 4 |
Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
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EL8 (ASX) Chart |