For comparison purposes: VEC looking like listing today at 100% premium to issue price of .20, on a down ASX day.
At .40, with 60m shares, VEC will be valued at $24m. Loyalty options also on offer.
VEC's assets are iron ore tenements in the Earaheedy Basin, same region as GXY's Shoemaker. VEC's tenements have prior drilling history, while Shoemaker has sampling results only - exploration program on their most prospective areas is in full swing next year.
Based on 39m shares on issue, GXY's market cap is $25m......with 5 projects on their books, several of them potential company makers in their own right. Defies belief.
If it is correct as one poster has indicated that 2 funds are taking/looking at taking a position in GXY, I would not be surprised if the share price is being played with for this purpose - IMO.
Map show Regional players
cheers
Marny
comparison
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