More than likely just folk buying a very cheap vehicle with drilling about to start.
$3.5m MC with almost $3m in cash and drilling imminent per the last announcement, late June through till September on a couple of projects.
If results are good, huge upside. If the share price triples the market cap is still sub $10m
If drilling comes up a duster. Then there is plenty of cash left to spend on something else and not too much downside if it trades back to cash backing.
