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Thought I'd have a quick look since I drive past their building...

  1. Getintoit
    207 Posts.
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    29/10/19
    16:23
    Post #: 41126322
    Thought I'd have a quick look since I drive past their building several times a week :

    $8.8mill cash and equivalents
    $6.2mill current liabilities (mostly restoration provisions)
    $640K rent etc for a huge building housing 3 or 4 people
    Done zip for many years
    Balance Sheet shows $11.6mill Net Assets but $7.5mill of this is "Exploration Expenditure"

    Why is Market Cap $7.8mill and why are people invested here ??

    Cheers - Surfydad
    ICN Price at posting: 1.3¢ Sentiment: None Disclosure: Not Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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