Well, I'm on board now.
Unless I'm mistaken, a well at Beehive is going to cost $30m to drill with all the risks attached (look what happened with BYE and their sidetrack wells).For a $40m market cap, a $30m well is a big bite. Add to that the "production linked payments" (which look like a royalty to me) and the company has got tremendous upside for NO RISK and no need to raise more capital.
I like it a lot.
Ann: Sale of Beehive Prospect, page-9
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.3¢ | 2.2¢ | $23.54K | 1.063M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 1839170 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 237903 | 3 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |