Its not that strange that Atha has a 130M MC. Regardless of when they where founded they simply have a very large exploration land package, mostly in excellent locations. That is where the value is from. The chances there is one of multiple economical deposits on their land is very good. And that chance becomes more valuable as the U price goes up.
Exploration companies are much more speculative and therefore much harder the value. Which means they go in dumpster during poor sentiment (which we currently have since SPUT is a discount and U stocks have under performed the commodity) but can reach hilarious valuations when sentiment is very high (every indication is that is where we are headed) plus if they do hit something exciting there is also a lot of upside.
But as long as sentiment stays poor and they don't have a big hit there will be dilution. But that is where the merger can be helpful. A much bigger company attracts more large money and is going to be included in more ETF's so easier to raise,
92E Price at posting:
40.5¢ Sentiment: Buy Disclosure: Held
