Overreaction in my humble opinion...
Consider the below..
At 10.5c, market cap is 45M
EV is below 30M
At today's announced prices of $68 a pearl, these guys can still make NPAT of circa 10M a year...
You do the math!
EV/NPAT multiple of 3 is cheap, even with the risks...
Lastly,10.5c is WAY below NTA.....
I just bought as much as made sense at 10.5/11, just then.
Ann: Kobe Auction Result and March Quarter Sales Update, page-10
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Mkt cap ! $43.51M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.0¢ | 9.9¢ | $16.91K | 169.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 239061 | 9.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.0¢ | 228848 | 2 |
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