WOW... this was handled poorly. What a poor announcement (not just the duster... but the way it was presented)
Shouldn't have opened this morning - it should have been in TH... allowed 20m shares to be dumped in the first hour (thats a pretty high volume traded in an hour considering normal day trade is 20-40m in a whole day with bigger price movements)... and left a whole bunch of buyers holding the bag under questionable circumstances.
Going into TH would have given them time to issue a better statement with more info and maybe not had as drastic an effect on share holder sentiment and price.
The price has been (rightly & also unfortunately) smashed due to this anger and poor sentiment and questions about insider trading (again!). IMHO it is overdone. At time of writing this we have a MC of $13.5m... about $9.5m cash (pre-spud) giving us an EV of around $4m (not sure what this drill cost us). We have another drill in a different prospect in a few months. But more in importantly we have up to $16m from Cliff Head starting to come in in a few months (at least $8.5m in the first 2 stages). And we also have our holdings in GAS.
By my calculations, with a MC of $13.5m right now... we are priced below our cash and asset valuations right now.
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Last
0.7¢ |
Change
-0.007(50.0%) |
Mkt cap ! $14.56M |
Open | High | Low | Value | Volume |
1.4¢ | 1.4¢ | 0.6¢ | $994.3K | 125.7M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
21 | 11951663 | 0.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.7¢ | 448147 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
21 | 11951663 | 0.006 |
25 | 12142698 | 0.005 |
12 | 9983000 | 0.004 |
6 | 9227700 | 0.003 |
5 | 12944445 | 0.002 |
Price($) | Vol. | No. |
---|---|---|
0.007 | 448147 | 1 |
0.008 | 6287774 | 13 |
0.009 | 8457027 | 15 |
0.010 | 9296304 | 10 |
0.011 | 3466667 | 3 |
Last trade - 16.10pm 07/08/2024 (20 minute delay) ? |
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