I think the rule of thumb calcs are out the window with Marengo. Given their recent history and failures they could have double the current copper in the ground and not be worth any more. This is because the copper is just dirt at the moment. There are so many factors and obstacles to overcome to make that dirt a viable commodity.
The market just doesn't believe that they can become a producing mine and I don't blame them.
An update from management would be a good start.
lng, page-5
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Last
$1.11 |
Change
-0.115(9.43%) |
Mkt cap ! $173.2M | |||
| Open | High | Low | Value | Volume |
| $1.18 | $1.20 | $1.11 | $1.649M | 1.430M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3721 | $1.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.11 | 20000 | 1 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| ASL (ASX) Chart |