I think the market didn't and doesn't give enough value to their net cash position. Also with so much cash, they also aren't going to do dilutive capital raises (except for DRP) which would attract the attention of brokers and funds.
To be fair, their previous core business (resources) completely collapsed on them and they're still chasing DCG. Also noone likes mining service companies (even if this is now a much smaller part of the business). And then there was COVID. So they haven't had it easy operationally. Did I mention this is a value investment, in a market that doesn't like value?
Ann: Trading Halt, page-27
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Last
$1.79 |
Change
0.045(2.58%) |
Mkt cap ! $471.1M | |||
| Open | High | Low | Value | Volume |
| $1.75 | $1.80 | $1.75 | $819.7K | 461.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18521 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.79 | 2105 | 2 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| SXE (ASX) Chart |