LongT, I think your point is very valid as market cap reflects the value of the company in the market. So therefore using the low of 6.2c in March 2009 and digging up the number of shares on issue at that time reflects a market cap of $26M back then compared to say $40M now. Therefore MEO is approx 50% more valuable now than then, or needs to drop approx 35% from its current level to be of equal value as in March 2009.
Interesting to think of all of MEO's assets/ permits now compared to then, being effectively valued in the market at only $16M.
Says to me that MEO is seriously cheap right now, but says to others that there is potentially a further 35% drop to SP from current levels. Depends what side of the fence you are on...
What we do know though is that the SP has not stayed at historical lows for long or at this market cap for long! Do your own thing.
KK
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