Just having a look at the numbers — current market cap is $77 million. Each time this drops (looks like another 0.1 cent today), the percentage loss accelerates. If we lose another 0.01 today, we’ll be down 12%, taking market cap to around $67 million.
Based on cash burn and maybe an R&D grant coming in, I’d estimate cash on hand is probably $12–13 million — unless they've made drastic spending cuts (which I doubt). That puts enterprise value around $50–55 million. Not great considering they swallowed up TMT for 91 million.Lots of good press lately about Vandaium batteries, but still no shift in the underlying spot price — probably still anchored by Chinese steel demand.
Could be a “darkest before dawn” moment… or it could still roll over — hard to call.That said, if we do see an uptick from green energy battery demand — or any beefed-up government support — this thing is a screaming buy down here.
AVL Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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