If the money ran out then the assets would be sold. A fully determined economic deposit with an impending mining licence and a promising exploration tenement would be worth much more than $80 million, the current market capitalization. What is holding the share price down at present is managements slow progress and lack of credibility that they can actually finance the mine without issuing massive amounts of low priced stock. I am surprised that this has not been taken over at this level by a bigger player.
market valuation, page-12
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Last
44.0¢ |
Change
-0.005(1.12%) |
Mkt cap ! $342.8M | |||
| Open | High | Low | Value | Volume |
| 44.5¢ | 44.5¢ | 44.0¢ | $1.042M | 2.351M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 39 | 5269389 | 44.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 1628290 | 31 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| RXM (ASX) Chart |