If i got it right caspin has 4.6m cash after placement, 1m to...

If i got it right caspin has 4.6m cash after placement, 1m to come from SPP subjected to shareholder approval. That is 5.6m in cash position soon.

That would mean the enterprise value for tenements - Serendella, Yarrawindah, Mt Squires are 19m. Seems cheap when compared to other spec plays. Sentiment sure is terrible now, but if I do recall the placement details chalice had no sweat putting 400k AUD into placement at 30c to retain their 9% position. Since they know what they are doing in Jullimar, that gets my vote of confidence

Having a 10pct market discount over SPP/placement seems like a bargain to me at ~ 27c. I picked some up at 26.5 to bring my average down, and hope for the best though cash strapped at this point

Within the Jullimar area, Caspin is now trading at around 23.6m market cap, and the speccy neighbours DEV is at 133.5m to the south (36c) with early days on Soverign. MI6 at 114.7m to the north (49c) seems to be picking up gold and copper hits lately. They are not a one to one comparison as they have different tenements in different regions but might be interesting numbers for some, especially when it highlights the potential of the region