re: davo22 at it again
Simple calculations of value in ground converted to share price do not live in the real world.
The cost of management, drilling & getting the gas out of the ground, and into (new) collecting pipelines must be factored in, then royalty costs during operation.
Marion has continued to burn cash at a healthy clip - and will continue to do so as long as they are drilling and developing the resource.
At their current rate of burn, and rate of bringing production online, they will need to come back to the market, or to extend their lines of credit past the 50million (half of which was already drawn from memory). Maybe not immediately.
Not having done my own revenue calculations, I will be led by other posts on this forum. But by my own estimation, this stock is not worth much more than it's current price - and maybe less given time cost of money.
MAE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
