Agreed, just because they have been paid the cash, doesnt mean they have delivered the goods yet. I have been watching these guys for a while and nearly went bang, go buy some based on the cash in bank v market cap until I looked at the half year balance sheet.
With the cost of materials skyrocketing, depending on how the contracts are written for Iron Bridge that cash could be drawn down + very quickly to deliver the already agreed promised project. I hope they maintained enough contingency and escillation in the estimating of the job. For what I assume was a competitively bid project, I think its hard to expect that the escillation has covered the crazy material price increases. If they have cut there throat to get the job the 1.9c could be worth zilch in no time.
If they deliver it on budget and on time that is a massive tick to the company and I would happily buy them at 3c post execution. At the moment it is way too much risk for reward for me at the moment.
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Last
13.5¢ |
Change
0.005(3.85%) |
Mkt cap ! $15.89M |
Open | High | Low | Value | Volume |
13.0¢ | 13.5¢ | 13.0¢ | $19.53K | 146.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 119148 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.5¢ | 4149 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 119148 | 0.130 |
2 | 210000 | 0.125 |
2 | 94000 | 0.120 |
1 | 8695 | 0.115 |
1 | 30000 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.135 | 4149 | 1 |
0.140 | 231878 | 4 |
0.145 | 134500 | 4 |
0.150 | 50000 | 1 |
0.155 | 45570 | 1 |
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