I am not sure going in 100% on Buffalo is a wise move; but the fallback position, upon failure, is this much talked-up, and genuine, Dorado asset. Currently the SP for the Dorado asset is valued [today] by the market at 34.5 cents per share as it would be post Buffalo-duster and a company with somewhat reduced cash reserves.
A takeover at around 45 cents, at that point, would seem reasonable. Indeed an offer today for Carnarvon at 45 cents would seem like a proposal worth contemplation.
Deep pockets and algoriithms rule now; if the insto's circle the wagons very difficult to counter.
Just look at Bellamys; bought for a song by a Chinese company after the company's SP has been dropping incrementally for the past 18 months. Shareholders waited for "the shorting" to come to an end; it never did. Like Carnarvon's O&G reserves Bellamy's is a real player in the Chinese infant baby formula market whose market share in China is considerable.
God knows what those algorithms will do to Carnarvon's SP between now and 2024.
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Last
15.8¢ |
Change
-0.003(1.56%) |
Mkt cap ! $281.7M |
Open | High | Low | Value | Volume |
15.5¢ | 16.0¢ | 15.5¢ | $80.05K | 501.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 860946 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 206333 | 13 |
View Market Depth
No. | Vol. | Price($) |
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15 | 855731 | 0.155 |
25 | 665118 | 0.150 |
19 | 502792 | 0.145 |
11 | 480614 | 0.140 |
8 | 572089 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 156333 | 12 |
0.165 | 137645 | 9 |
0.170 | 1675292 | 16 |
0.175 | 1539421 | 20 |
0.180 | 1373701 | 16 |
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