Cautious market appetite this morning but this is a welcome step forward. It looks like a “buy more time” approach to me. Return cash to keep holders happy (and 0.8c isn’t at all bad given the share price closed at 1.9c yesterday) while they keep working on asset sales. I think they’ll sell assets individually rather than the whole turnkey business - probably more profitable to do so in parts anyhow. I’d be looking to early 2024 for announcements on sale & purchase agreements, around the record or distribution date for the cash return.
Cautious market appetite this morning but this is a welcome step...
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Last
1.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.3¢ | 1.3¢ | $9.1K | 700K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 12179048 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 15060860 | 16 |
View Market Depth
| Last trade - 15.54pm 03/10/2024 (20 minute delay) ? |
| OEL (ASX) Chart |