This article is a good read -
http://www.theaustralian.news.com.au/business/story/0,28124,25748729-30538,00.html
The theory is ENE is undervalued - on some levels due to the CPRS issues, as they say = 20% revenue. However, if you take the $3.65 comparative valuation and apply a 0.8 multipler your get discounted valuation $2.92.
We know the UK/France assets are more valuable.
So the issue remains - 90% held by TOP 20 shareholders all looking to unlock value, issue remains who's going to do it if not Archer.
My opinion - Archer is betting on a CPRS change in some form and pitching at a level they cannot lose at ... little downside @ $2.40
discounted valuation $2.92
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Last
$1.40 |
Change
-0.040(2.78%) |
Mkt cap ! $156.8M | |||
| Open | High | Low | Value | Volume |
| $1.44 | $1.44 | $1.40 | $49.21K | 35.05K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15829 | $1.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 14572 | 2 |
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| SKS (ASX) Chart |