Just a quick calculation to show you the market valuation of Galilee snadstone.
"If the company raises the full amount, it will have a market value of about $52.8 million on listing."
The equity value of 52.8M and debt value of $50M mean the enterprise value of vintage will be $102.8M.
Vintage only asset is 30% of the Comet Galilee sandstone reserves.
The entire field is therefore valued at $342.7M (being $102.8M /.30 = $342.67M )
Comet owns 70% being $ 240 M (342.7 x 70%)
Comets market on Friday 244M.
So either Muhalo (the largest untapped csg reserve in eastern Australia) and are very large chunk of the emerging Galilee basin are worth $4M between them OR we are massively undervalued.
I am absolutely sure its the later and I expect Comet to drift up to 50c even without reserve upgrades that are coming.
GLTA
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Mkt cap ! $210.4M |
Open | High | Low | Value | Volume |
18.8¢ | 19.0¢ | 18.3¢ | $210.7K | 1.119M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9142 | 18.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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19.0¢ | 142409 | 1 |
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No. | Vol. | Price($) |
---|---|---|
1 | 9142 | 0.185 |
6 | 552861 | 0.180 |
2 | 252858 | 0.175 |
5 | 280382 | 0.170 |
4 | 332000 | 0.165 |
Price($) | Vol. | No. |
---|---|---|
0.190 | 142409 | 1 |
0.195 | 318849 | 5 |
0.200 | 566871 | 9 |
0.205 | 360991 | 6 |
0.210 | 5200 | 1 |
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