V8. Rocket fuel to the CBS fire is that the market noticed that it has about $7m in cash when it had a $4m market cap!
CBS:
Diluted Market cap = (259m shares + 0 options) x 0.039 = $10m
Cash $7m.
EV = $3m
Nemex:
Diluted Market cap = (75m shares & options) x 0.08 = $6m
Cash = $1.3m
EV = $4.7
BOTH are cheap. NXR has the JORC resource and sizeable exploration target. CBS has the high grades and apparent low contaminants.
Basically, you can't go wrong in investing in a spec where 70% of it's current market cap is cover by cash.
Anyway. I like both. But you can understand why the market it beginning to rerate CBS.
Thx
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amazing, page-26
Currently unlisted. Proposed listing date: WITHDRAWN
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