Yeah I'm scratching my head over this one... a potential major discovery with mineralisation encountered over huge strike length - not 40m or even 400m but 4km! The company has liquid assets of $11M and a market cap of just $25M... which gives us an enterprise value of just $14M. To give a comparison of other discoveries after a few holes (1- 3 holes) that had major discovery potential and reached significant market caps - AZS (Andover; $300M), CNB (Nil Desperandum; $300M), Coda Minerals (Emmie Bluff Deeps; $150M), CPN (Yarabrook Hill; $200M), ESR (T5; $350M), LEX (Burns; $180M), NXM (Templar-Crusader; $190M) and RTR (Earaheedy; $500M) amongst others. True that these are all in Australia however I rate this discovery higher potential than most of them. Saying that, the company did choose to go early with the cap raise, most likely due to extremely difficult market conditions and the desire to secure capital. Clearly the market doesn't share my enthusiasm for the discovery...
Yeah I'm scratching my head over this one... a potential major...
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Last
7.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $23.17M | |||
| Open | High | Low | Value | Volume |
| 7.2¢ | 7.2¢ | 6.9¢ | $64.28K | 916.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 94331 | 7.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.2¢ | 127529 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
7.0¢ |
Change
0.000 ( 1.45 %) |
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| Open | High | Low | Volume | ||
| 7.0¢ | 7.2¢ | 7.0¢ | 126849 | ||
| Last updated 14.09pm 03/05/2024 ? | |||||
| CBE (ASX) Chart |