It is true,, different assets have to be moved in different ways. Diverting back to Halls creek in a speculative way - WPG Resources (WPG) sold their South Australian iron ore assets to Onesteel for around $320m. A distribution totalling $1.05 per share (fully franked dividend of $0.63 and a capital return of $0.42) was paid to shareholders in 2011.
WPG had a market cap of $24 million and the sale was a boon to holders. I know we are not comparing apples to apples but we're looking at SOC's market cap now under $4mil with low number of shares now after consolidation compared to WPG at that time who had a market whose share I think were sitting on 8.7c and a 24 mil market cap. There are examples of project sales from companies with low Market caps often do very well for tenements of promise. There is a history of many companies selling their assets when they don't have the financial capacity or or the plan to produce but do in turn make profits for their holders who can stay on or enter at a price that is within their risk capacity. Looking through the fog, SOC's only logical process may well be the sale of Halls Peak at a price to benefit shareholders equally with others in the sell up if it occurs. Share brokers can do this of course.
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Last
10.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.89M |
Open | High | Low | Value | Volume |
10.0¢ | 10.0¢ | 10.0¢ | $10K | 100K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 38064 | 9.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
10.0¢ | 23500 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 38064 | 0.098 |
1 | 7368 | 0.096 |
2 | 227222 | 0.090 |
1 | 80000 | 0.081 |
1 | 100000 | 0.080 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 22205 | 1 |
0.120 | 12545 | 1 |
0.130 | 97482 | 2 |
0.150 | 600000 | 2 |
0.170 | 59840 | 1 |
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