6.6 mil market cap with an EV of circa 5.2 mil is ridiculous with 3 projects in arguably the hottest space at the moment. Imagine if they had a zinc project as well lol. I think @treasurehunter mentioned they already have a jorc resource for there cobalt at a good enough grade.
While i think Disallowed might be a bit of a stretch short term at least, there is no reason why this cant command a market cap of least 12 mil which is 1 bag from here.
Previous to the placement the top 20 owned 76 percent of the register. So its very tight
Swick owns 62 percent of the company across 4 different accounts alone, no doubt they took up most of the placement as well.
This really makes the register very tight unlike some of the behemoths around with a billion plus shares on the register and loose as anything.
I estimate on the back of a paper napkin that the free float for this company is roughly 220 mil free float.
This will tighten up over the coming days as folk with big pockets take there positions
You only need 4 million shares to hit the top 20
CGM Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
