Chart wise its respected the support at 6.5c and looks like it wants to go higher
Fundamentally its dirt cheap based on its recent sale to DRD of Elsberg which is part of the ERGO JV
Mkt Cap 700m shares@7= $49m
Cash $21m
The key to the valuation is that they sold their 50% interest in Elsburg which had JORC 170Mt'[email protected]/t Au + 0.004% U for $42m to JV partner DRD Gold
WRGO (West Rand) which they own 100% they have JORC 322Mt'[email protected]/t Au + 0.0045%U you do the math but based on what they sold Elsberg for WRGO is worth $150m at least
ERGO (East Rand) 50% JV with DRD, here they have a pre JORC Compliant Resource of 1.7Bt'[email protected]/t Au + 0.005%U and DRD is providing $15m of the funding, now again you do the math but this could be worth $400m based on what they sold Elsburg for
drd see's the value in the gold and uranium
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Last
1.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.43M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.4¢ | 1.2¢ | $35.72K | 2.776M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3179309 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.4¢ | 4923088 | 4 |
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| Last trade - 15.43pm 26/07/2024 (20 minute delay) ? |
| LRL (ASX) Chart |