Add the $10M cash to the current $23M mc and divide by the new 2B shares on issue and we get a fair value of 1.65c.
That's assuming the market values the cash as something that will generate near-term milestones and doesn't assume it will simply be dwindled away, which is definitely possible for the 12 months ahead. If there was strong newsflow ahead, there's no way the CR would be at a 56% discount.
A preferrable outcome would have at least been 1 for 1 @ 1.5c with free attaching option. This is just a really bad look.
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Last
$1.27 |
Change
0.005(0.40%) |
Mkt cap ! $740.7M | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.29 | $1.27 | $406.0K | 319.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13987 | $1.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 1380 | 1 |
View Market Depth
| Last trade - 16.10pm 27/06/2025 (20 minute delay) ? |
| PYC (ASX) Chart |