Our friends over at RNU have 2,542,032,155 shares on issue with a Friday close of $0.046 for a MC of A$116.9m. Their last quarterly was A$108.2m cash so their EV has fallen to $8.7m.
EGR has 454,131,819 shares on issue with a Friday close of $0.12 for a MC of A$54.5m. EGR's last quarterly was A$17.6m for an EV of $36.9m. While RNU still has a much higher MC, its primarily due to a well-timed A$70m CR back in 2022 (at $0.275/share). Assuming the market is valuing cash balances at the cash value, the market is valuing EGR's projects at 4x that of RNU when previously it was EGR's being valued at a fraction of RNU's.
EGR Price at posting:
12.0¢ Sentiment: None Disclosure: Held
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