Agree with you Sally, but a slightly different perspective - its not that XST is overly valued. Its the fact that SGC is appreciably undervalued!
As GJ emphasises in the lead up to the drilling of Borba, a number of junior ASX listed companies exploring in the Perth Basin have got >$100 million mkt caps, but exploration costs and development costs are prohibitively expensive in the Perth Basin, due to appreciably deeper targets, and yet to be established pipelines for gas transport.
Sacramento Basin gas projects in contrast have already established main pipelines established, and those pipelines are under-utilised.
The previous issue of the SGC price being capped probably has had a lot to do with current mkt cap, but that seems to have gone away now that drilling has commenced.
Big Ga$$$$$$$, page-40
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Mkt cap ! $5.458M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $5.851K | 850.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 364284 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 2225376 | 3 |
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| Last trade - 16.10pm 22/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 0.7¢ | 0.8¢ | 0.7¢ | 366782 | ||
| Last updated 14.16pm 22/05/2024 ? | |||||
| SGC (ASX) Chart |