You are talking exactly to my point of distinction - i referred to the fundamentals getting stronger, not the daily market value of the stock.
Why is the market still doubting the intrinsic value? I don't know, but maybe its a combination of a few things:
1. Show me the money - when/if MAY starts trucking oil from Unit 1b, and begins monetising the discovery. Then the market might wake up.
2. Whats the next news release that could support a price rise? Is it:
a. Alameda-3. Presumably still a couple or more weeks to go to spud.
b. Resource re-estimation for the various Amistad zones. Presumably a way to go.
c. Any other news such as development well preparation. Also not expecting it in coming days.
May Chart, page-11086
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Last
2.3¢ |
Change
-0.001(4.17%) |
Mkt cap ! $77.51M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.3¢ | $28.01K | 1.168M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1913103 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 573987 | 7 |
View Market Depth
| Last trade - 14.54pm 28/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |