This stock is extremely undervalued with negative EV, assets minus cash is $80m as opposed to $200+m actual value.
if they did sell the $25m inventory this quarter and spend less than $20m in cash, which should be the case in c&m, they should still have $80m left.
Moving forward as long as they spend around $10m per quarter for corp costs etc we can still last for 6-8 quarters.
they absolutely don’t need a capital raising at this point. They can always go for a loan or convertible notes to restart the mine. And if management is smart enough they will only restart when it is profitable.
dont forget that the stock is heavily shorted, once shorts start covering we should see a bounce to at least .125
This stock is extremely undervalued with negative EV, assets...
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Last
9.3¢ |
Change
-0.005(5.10%) |
Mkt cap ! $198.7M | |||
| Open | High | Low | Value | Volume |
| 9.9¢ | 10.0¢ | 9.3¢ | $3.295M | 34.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 365887 | 9.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.4¢ | 883409 | 8 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| CXO (ASX) Chart |