BFE black fire minerals ltd

According to the quarterly just out, BFE has $1m cash left but...

  1. 3,827 Posts.
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    According to the quarterly just out, BFE has $1m cash left but is being bid @2.2.c which would value it at a market cap of $3.5m.

    Record is terrible and projects uninspiring - why the bids above cash backing? Where's the upside here?
 
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Currently unlisted public company.

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