doubt it would drop to that because 183m shares with the new shares gives it's a market cap of only approx $7.3m at that level and an EV of $4.8m and it's worth more than a Shell.
plus no free options either so no flipping and free carry.
T20 own just over 60% of current 140m.
119m traded yesterday, tightly held so at most there's now around 40-60m free float at most.
it's volatile though because of the low shares and jumps both down and up drastically on low volumes, so it could provide a dip on Monday but I think it's had its dip today and too many eyes on it from being next to MP and under DTR....but maybe high 5s if the market lets it and if it does I'll be adding more.
permits submitted and they're on site, same process as DTR so they should get expedited granting as well and drilling to start July.
If it was already a $15m to $20m market cap and they raised then I'd agree it would dip back to maybe the $10m level but it's still only $11m with the new 37m shares being added.
Doubt many will be flipping without those free options, they won't be able to get back in and out of the 37m I doubt even half will be flipping given the performance of DTR, MTM, TMG lately.
