That would be an enterprise value of under $20m based on their 31 October cash balance plus tranche two equaling over $6m. Assuming about 200m fully paid shares undiluted. Seems rather absurd for a brownfields gold play beside top 10 global gold infrastructure with at least 4 shallow 100 + gram x metre hits vs some greenfields exploration comps drilling further out. However this bid tapping, ask stacking cap algo is relentless. Seems to have been dialled down a bit today though. Maybe it can sense the wall building on the bid and the off screen wipes.
WTM Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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