12 months ago the company was ready to appraisal the discovery but due to pressure in the well it got abandoned and the well was delayed 12 months until now. How markets work Is if there is a delay it gets sold off happened to IVZ (30 percent fall in a day for an 18 day delay), CXO for 1 month delay, PLS and you should go look at HIO delayed 12-18 months and gone from 60 cents to 8 cents. Investors don’t like uncertainty until that’s all changed and MAY has fundamentally changed now
This is going all the way back up to where it was 12 months ago at fair value because the delayed appraisal is back on. Severely undervalued and should be back at 15-20 cents but there are fools that sell for a pip. It will get there and rerate sooner than you think. Keep pondering
May Chart, page-4969
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Last
2.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $69.08M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 2.0¢ | $37.57K | 1.856M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 11509043 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 1523856 | 5 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |