Expect this stock to have good support in the run up to the next resource update. The resource update this morning was on par with expectations.
Valuing these ounces at $200 per ounce (considering only resource ounces defined), I think it’s probably fairly valued at 300m market cap, which would equate to mid-60c per share.
With four drill rigs running, this stock will slowly creep up over the coming months with anticipation of next resource update. The next resource update is significant because with 2Moz Au at such high grade, I can’t see the mid tier companies in the region not making takeover offer.
At 2Moz Au, I think it will be fair to value the company at 80m market cap, equating to 80c per share.
Ann: Bellevue Resource Increases to More Than 1.5M Ounces of Gold, page-7
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Last
$2.03 |
Change
0.030(1.50%) |
Mkt cap ! $2.390B | |||
| Open | High | Low | Value | Volume |
| $2.03 | $2.06 | $2.01 | $7.893M | 3.882M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 178236 | $2.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.04 | 77587 | 9 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BGL (ASX) Chart |