It last traded at 9.9¢ a share for a market capitalisation of about $10 million. That looks on the skinny side of things given that Bass is holding about $8 million in cash, $6 million in receivables (net of creditors) and $1.6 million in inventory. Garimpeiro makes that $15.6 million (15¢ a share).
This is what people should take note of...
Plus... - $5M-$10M NPAT 2009 - Under $20M to get Hellyer to production. - 150K-250K tonnes per year ( 5-years+ ) - Huge Exploration upside
BSM Price at posting:
10.2¢ Sentiment: Buy Disclosure: Held
