Given the last two operational updates,and particularly the last ,there is a very real possibility icewine could be plugged and abandoned as a duster or uneconomic in the coming few weeks. The market reaction would indicate this, and markets rarely get things wrong.
Whether or not a director holds plenty is irrelevent in whether a well is successful.
88e has been ramped to the point of no return here on hotcopper.88e old reincarnation Tangiers was a flop.History generally repeats!
Given 88e have 5 billion shares issued, plus options, the next operational update, if continues the same tone, will see a catastrophic collapse in share price given this ballooning $200 million market value for a high risk speculative play. I have stated that 88e now should have a market valuation of no more than $20 million, which converts to around .004- .005 for the heads.At $20 million, this would be considered pricey for a stock which now carries this level of risk for well failure.
The hype will want to disregard this view, however in my opinion, this view is now a distinct 80 percent probability at this stage given the last operational update.
Given this potential outlook, I believe the current $200 million market value is well over valued.
The above view is in my humble opinion only. Good luck to all holders.
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Last
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Mkt cap ! $86.67M |
Open | High | Low | Value | Volume |
0.3¢ | 0.4¢ | 0.3¢ | $32.4K | 10.49M |
Buyers (Bids)
No. | Vol. | Price($) |
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583 | 576589106 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.4¢ | 572757193 | 128 |
View Market Depth
No. | Vol. | Price($) |
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583 | 576594123 | 0.003 |
153 | 361874967 | 0.002 |
62 | 354319895 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.004 | 572757193 | 128 |
0.005 | 233905946 | 126 |
0.006 | 139319479 | 99 |
0.007 | 224912334 | 60 |
0.008 | 89026904 | 57 |
Last trade - 15.45pm 14/05/2024 (20 minute delay) ? |
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