well definitively IMHO it is an easy rough conservative calculation for reasonable SP . ignoring any rights/options and ignoring the $1.5M in scrip of other which is a very fair point... SWEL.. ignoring free drilling and exploration expenditure... ignoring the easy upside to a surprise in either Duchess or the more leveraged 100% Newman area...
SP = Calc Conservative MC $/ current MC $ * Current SP = $17M/$10M *0.3c= 0.5c.
The market value seem to expect the management to be a disaster... personally I dont see that.
well definitively IMHO it is an easy rough conservative...
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