CNB was trading upwards of $150m Market cap before the announcement was released.
My view at the time was that scoping study (although good) didn't justify a valuation of 150m after weighing all risks and changing NPV discount rate to 8% instead of 7%.Now that CNB had shred half of that market cap its starting to look attractive again. Same project, same scoping study, same risks and same copper outlook. Nothing changed, Just a lower price tag now. Any speculations of a deal could see this move, otherwise it could stabilise between 40c and 50c. Good luck folks.
Ann: Exploration Update - Drilling Recommences, page-187
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Last
41.5¢ |
Change
-0.045(9.78%) |
Mkt cap ! $73.07M | |||
| Open | High | Low | Value | Volume |
| 46.0¢ | 47.0¢ | 40.5¢ | $271.8K | 646.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 16290 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 2343 | 1 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| CNB (ASX) Chart |