re: Ann: Capital Raisings and Commencement of... JB
The company has just come through a period of it being uncertain as to weather they had a future. The price during this time reflected this - they know there is a significant amount of gold in the ground at Trenggalek, but had a market cap earlier this week of $4.5M.
The market is saying now, with the release of the capital raising - and importantly a very good plan of accomplishing their exploration goals - that the company is worth significantly more than this.
The price looks like it may go higher today - the market overall is pricing the value of the company at roughly 3.7 cents, giving a market cap of about $12.5M:
(current price + 1.8)/2 x 344M shares
This is still quite cheap however for a company with their prospects; EXM for example has a market cap of $22M - with a similar group of prospects at Tennant Creek. So it would not be unreasonable for ARX to reach that sort of market cap - which would see the pre-rights market cap sit at about 11 cents.
Regardless - good to see it go up, but good just to see some small amount of interest come back into the stock from my perspective, having sat on it for a while.
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Mkt cap ! $50.35M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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Price($) | Vol. | No. |
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1 | 32121 | 0.033 |
3 | 630677 | 0.032 |
4 | 333300 | 0.030 |
4 | 540248 | 0.029 |
3 | 732061 | 0.028 |
Price($) | Vol. | No. |
---|---|---|
0.036 | 289495 | 2 |
0.037 | 430829 | 2 |
0.038 | 421845 | 2 |
0.039 | 441000 | 2 |
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