It has to get away from being a penny stock for quite a few reasons, the most immediate ones are institutional and ASX acceptance.
Yes some institutions and exchanges have requirements around shareprices. Consolidation has always been inevitable it was more about timing and merging was an ideal opportunity starting as a new entity....it changes nothing, a company is eventually valued on its ability to make a profit.
As it stands Elevra is currently valued by the market at around $A400m ( $US260m) with an estimated $A224m in cash at completion and no debt, it just requires the profitability part.
Cheers Whisky
SYA Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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