The ground has potential. See this quarterly wrt new shear they did not know was there. but how they have managed to spend +$40m and only deliver 900koz and a 90% share price decline in this fertile 'safe investment' area.... well, one would hope for some self-reflection from the team going forward. But I have a doubt. They do not seem to be in the maximum-exploration-bang for buck game.
Any T/O will get it for a 40% premium, but why would anyone put in an offer now if they can wait and get it for even less? Probably a chinese company eyeing the next capital raise as we speak and why not? Australians have totally lost the plot in the mining exploration game.
Even PRU can bide their time an pick it up for a song. You have to hand it to the majors.... this is a GREAT exploration model to get other people to drill out a resource for you!
Ann: Quarterly Cashflow Report, page-19
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Last
1.1¢ |
Change
0.002(22.2%) |
Mkt cap ! $10.73M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.2¢ | 1.0¢ | $62.70K | 5.792M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 3112640 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 1677009 | 9 |
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| Last trade - 11.13am 10/07/2024 (20 minute delay) ? |
| MKG (ASX) Chart |