I think most HC posters also agree that success at Longtom or Grayling is the only way to get a significant share price rise in the short term. Speculation is good to a point, but only hard facts will confirm and then build on this.
Going by Nexus' figures, Longtom is worth 66c/share and Grayling $1.50/share. The fact that Apache want in on both these drills in very encouraging and this has added to the anticipation of the drills. As a quick and dirty approximation, add 66c and $1.50 and divide by two (see previous post) and you have $1.08 which is almost three times higher than the current price. Given the massive upside potential, you'd have to say a price approaching 50c would be appropriate until they find something solid.
That said, the downside if they are unsuccessful on both wells would probably be to 25-30c levels, until the next well is drilled. While there is definate risk, upside versus downside is stacked heavily in the favour of those that hold.
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Last
24.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $71.57M |
Open | High | Low | Value | Volume |
24.5¢ | 24.5¢ | 24.5¢ | $4.823K | 19.68K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 21848 | 23.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
25.0¢ | 17615 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 21848 | 0.230 |
1 | 4545 | 0.220 |
2 | 28000 | 0.215 |
3 | 14448 | 0.205 |
2 | 23000 | 0.200 |
Price($) | Vol. | No. |
---|---|---|
0.250 | 32131 | 2 |
0.260 | 145820 | 2 |
0.285 | 12524 | 1 |
0.295 | 3390 | 1 |
0.300 | 32437 | 1 |
Last trade - 10.13am 08/08/2024 (20 minute delay) ? |
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