re: Ann: Capital Raisings and Commencement of... JB
The company has just come through a period of it being uncertain as to weather they had a future. The price during this time reflected this - they know there is a significant amount of gold in the ground at Trenggalek, but had a market cap earlier this week of $4.5M.
The market is saying now, with the release of the capital raising - and importantly a very good plan of accomplishing their exploration goals - that the company is worth significantly more than this.
The price looks like it may go higher today - the market overall is pricing the value of the company at roughly 3.7 cents, giving a market cap of about $12.5M:
(current price + 1.8)/2 x 344M shares
This is still quite cheap however for a company with their prospects; EXM for example has a market cap of $22M - with a similar group of prospects at Tennant Creek. So it would not be unreasonable for ARX to reach that sort of market cap - which would see the pre-rights market cap sit at about 11 cents.
Regardless - good to see it go up, but good just to see some small amount of interest come back into the stock from my perspective, having sat on it for a while.
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Mkt cap ! $42.72M |
Open | High | Low | Value | Volume |
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4 | 1201617 | 0.027 |
3 | 519114 | 0.026 |
6 | 1759201 | 0.025 |
3 | 508000 | 0.024 |
Price($) | Vol. | No. |
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0.030 | 203950 | 2 |
0.031 | 78976 | 2 |
0.032 | 300000 | 1 |
0.033 | 372012 | 2 |
0.034 | 1000000 | 1 |
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