Yes, nigh on 3.4 billion is a lot of shares. Melbana could consolidate by a factor of 10 to 1 but that would not change the market cap. It would merely be an attempt to rid the stigma of a two cent stock. Earnings Per Share is an indicator of a companies profitability and financial health. Ongoing positive evaluation of the pay on the current three reservoirs and Zapoto along with successful commercialisation of the oil could produce an EPS figure that would not be a brake on SP growth. If a SP of $1 were achieved one day, Melbana would be a 3.4 billion company in the ASX 200 making it a mandatory buy for the big funds.
Yes, nigh on 3.4 billion is a lot of shares. Melbana could...
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Last
4.3¢ |
Change
-0.002(4.44%) |
Mkt cap ! $144.9M | |||
| Open | High | Low | Value | Volume |
| 4.5¢ | 4.6¢ | 4.2¢ | $176.8K | 4.017M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 1371566 | 4.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.3¢ | 164997 | 1 |
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| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| MAY (ASX) Chart |