I hope that you are correct!
There's a number of potential share price catalysts in the near term with the most obvious/critical being the resolution of the ENAMCO arrangements. Previous talk was in the order of $40-$60M for their 1/3 stake, which in my view is probably optimistic, but even $15-20M would represent ~20-25% of the current market capitalisation. More importantly the clearing of the decks' with respect to this matter would remove a significant element of risk associated with the company and hopefully clear the way for further improvements in sentiment and SP.
Aside from this, drilling is now underway and the blue sky potential of the tenements means that there is always the potential for the 'next' Koka to appear. A significant discovery could be a game changer.
Either way, at ~30c, the stock seems priced for the worst case scenario with little recognition of the potential upside - but this could change easily and rapidly.
I hope that you are correct!There's a number of potential share...
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Last
$1.42 |
Change
0.045(3.27%) |
Mkt cap ! $552.3M | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.47 | $1.38 | $3.755M | 2.633M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20000 | $1.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 92785 | 9 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| CHN (ASX) Chart |