Firstly, I am a shareholder and this for a number of years. My enthusiasm for the stock remains however this great news has delivered very little in shareholder value today. Why is this so... is this because:-
the stock remains highly speculative;
no one really believed the company had the ability to meet the "make good" provisions of the Cliff Head holding, in any event so the liability of anywhere between $10-35M does not really matter unless there is fantastic follow up positive actual events and the company then a commercial trading entity;
cash flow from the CH sale will not exceed that currently available from the sale of oil generated from CH;
future prospects remain in the lap of the gods.
Anyway, a positive step albeit one that the market has completely dismissed at this time, in my opinion. Directors must be thinking... what more are we able to do?
Firstly, I am a shareholder and this for a number of years. My...
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Last
0.7¢ |
Change
0.001(16.7%) |
Mkt cap ! $14.56M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $40.59K | 6.340M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 8042313 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 8539105 | 12 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| TEG (ASX) Chart |