I've put some points down ... I would appreciate if anyone can correct any of the possible errors in my logic ....
At this very moment in time ....
* 237.7 million shares are on issue
* Current share price is AUD 10c each
* This means a present market cap(MC)of AUD $23.77 million
* PSA have at least AUD $26.5 million in the bank
* Value of Producing assets included in MC $ZERO and there is atleast three years of Marathon to go .... not to mention Main Pass
* Value of exploration assets included in MC $ZERO ... and these are company changing "big beasty" opportunities.
Whilst we all experienced today the disappointment/setback of reduced reserve values on Marathon is it sensible to value a share holding at such an obvious discount ?
Whoever buys at these prices is buying a bargain ....
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what's it worth ?
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