In all fairness, this is what the numbers really mean:
Falcon Metals IPO'd with 116,999,999 shares at $0.5/share for $58,500,000 (the exact amount they attribute to the exploration licences), and 60,000,000 shares for $0.5/share for $30,000,000.
-11/03/2022 8:08 pm Half Yearly Report and Accounts ASX:FAL.
Falcon reported:
-11/03/2022 8:08 pm Half Yearly Report and Accounts ASX:FAL
This $59,656,213 is from 1) Falcon giving ~$58,500,000 give or take (offset) considering the IPO costs and exploration costs etc, to Chalice as reported here:
-11/03/2022 7:05 pm Half Year Accounts ASX: CHN
This literally means the "market" value of the assets are $58,500,000. Plus $28,806,277 cash. This means the company has about $87,306,277 of value.
$87,306,277 / 177,000,000 shares, = $0.493/share.
They probably realised many retail investors/traders don't put in any effort and just read the headlines, so I think it is well timed before the results are released, to give one more shake of the tree before the diamond drilling results are released.
In full disclosure, I have orders to buy at various points in the market depth, and it is now the time to buy for me. I assumed this would occur and was 100% ready.
If the diamond drilling provides "high grade" hits then the exploration licences would be worth even more... soo.. let's see how this goes.
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In all fairness, this is what the numbers really mean:Falcon...
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