Agreed. Still pretty cheap at $0.40 IMO. By my count there are 66m SOI with another 7m from the tranche 2 placement coming online shortly (perhaps even today looking at the pre-open bids - looks like the SP is getting a pump). I’m ignoring the ~7 of unquoted attaching and broker options issued in connection with the raise as they are out of the money ($0.50 strike). At $0.40 we are still only talking about a <$30m market cap with a few $m of net cash so probs a ~$27mish EV depending on where we are at in the working capital cycle. A very undemanding valuation given the revenue profile and opportunity IMO.
Onwards and upwards.
BCC Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)