Hi old friend, I value the two companies, merged into one , north of $270M
PNX have been issuing new shares to retire old debt.(My interpretation)
There is some chance the share price could fall to $0.004
Buying PNX at $0.004 would be the same as buying KIN at 5.2c (ratio 1:13)
MC of PNX @ 0.004 = about $24M
MC of KIN @ 5.2c = $61M
TOTAL MC Combined would be $85M
Cash and cash equivalents of the two companies is about $90M, which I value at $90M.
Conclusion buying PNX at $0.004 is like buying a dollar for 94c. Plus you get the value of all their projects.
There is no chance of a takeover as 50% of both companies are owned by the same group.
Broker involvement is zero , hence broker coverage is non existent.
Sometimes the Market takes a long time to find the intrinsic value of a stock.
KIN currently has $66M in the bank probably earning 5% in 3 month term deposits. Earning $63,000 interest a week.
Cheers Old fella
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Mkt cap ! $23.88M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
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No. | Vol. | Price($) |
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30 | 18541009 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.5¢ | 7461156 | 7 |
View Market Depth
No. | Vol. | Price($) |
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30 | 18541009 | 0.004 |
23 | 32162220 | 0.003 |
17 | 56278838 | 0.002 |
16 | 154889879 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.005 | 7461156 | 7 |
0.006 | 20532741 | 14 |
0.007 | 28433632 | 15 |
0.008 | 14495890 | 8 |
0.009 | 2628197 | 7 |
Last trade - 16.12pm 04/06/2024 (20 minute delay) ? |
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