Folks,
In making decisions about this stock ... I'd like to look over the full year financials that are due out next week ... The current prices on offer just don't stack up ... Based upon current price of AUD$.073 the market cap is AUD$16.9mil x .90 (exchange rate) = US $15.2 mil
We've just been told they have US$16.5mil in reserves not including any cash reserves.
If I look at the company in the following way ...
Cash at Bank US$25.2 mil+
Value of Reserves US$16.5 mil+
Sub Total US$41.7 mil=
Liabilities & Risk ????(US$26.5 mil)-
= Current Market Cap US$15.2 mil=
I'll be interested too see what actual liabilities and risks there are ?
Cheers
PeterRG
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