Cash in the bank is worth little more than zero in these 'pauper coal' markets. [one stock I hold has a market cap of $28m and has $23m in the bank and a stock holding in an oil company worth $48m plus other assets, problem, cash will be spent as the company is making a trading loss and will spend the cash on other assets held and there is no confidence in the present board of directors].
So DRG stock is not cheap with coal in the ground in Indonesia with future royalty taxes in question, and Mongolia which is also dodgy in other ways.
Without a partner things look to have little chance in moving and a deeply discounted rights issue would not be supported to develop a mine with coal prices at low levels and uncertain.
Outside chance of interest from Indonesia's Bayan, though they are in the courts in Singapore being sued by White Energy Limited on a reneged on deal.
Kangaroo Resources could well be interested but Bayans 58% holding is now frozen in all respects by Canberra's Federal High Court.
Cash in the bank is worth little more than zero in these 'pauper...
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Last
$1.36 |
Change
0.010(0.74%) |
Mkt cap ! $1.733B | |||
| Open | High | Low | Value | Volume |
| $1.36 | $1.37 | $1.33 | $9.286M | 6.867M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15000 | $1.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.36 | 69011 | 6 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| BGL (ASX) Chart |