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
0.2¢ |
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Mkt cap ! $57.78M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 300000 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.2¢ | 1259998 | 2 |
View Market Depth
No. | Vol. | Price($) |
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1 | 300000 | 0.004 |
8 | 5631683 | 0.003 |
524 | 977014749 | 0.002 |
125 | 702091148 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.002 | 1259998 | 2 |
0.003 | 384884392 | 70 |
0.004 | 509251229 | 198 |
0.005 | 184323853 | 95 |
0.006 | 77189978 | 65 |
Last trade - 09.44am 30/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
0.3¢ | 0.3¢ | 0.3¢ | 11500002 | ||
Last updated 10.00am 30/05/2024 ? |
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