As an exploration company, they & the SH are taking a gamble that they'll (literally) strike oil & that it'll be above expectations.
Dorado could have been a minor drop in the ocean - instead it's bloody massive - and those results were well after the CR.
The CR was because they needed funds at the time - maybe they could have waited, but if Dorado was tiny then that would have hurt the SP and thus the CR price.
DYOR, etc, etc.
Fundamental Value, page-182
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Last
16.5¢ |
Change
0.005(3.13%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.5¢ | 15.8¢ | $99.00K | 618.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 289938 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 1501696 | 17 |
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| Last trade - 12.09pm 20/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |