Yes, it looks like 5/5 drilling success.
EV only $6m, and cashflow positive. Fully funded drilling program, with no need for capital raising.
And don't forget that the directors have bought on market in the last few months, at 11.5 cents, and 13.5 cents.
Perhaps the gas price, (as well as the bear market in general) has been weighing on BUR. But remember that the drop in gas price is partly offset by the strengthening US$ vs the A$.
This is a very successful junior. In terms of drilling success, and the growth in the yet-to-be-announced gas reserves, they are successful. They are cash flow positive (how many other juniors can say that?).
The only lack of success has been in the share price. It will find its fair value as the market recovers.
I am quite happy to wait, (or buy more as fund become available).
disclosure: 700,000 FPO.
Yes, it looks like 5/5 drilling success.EV only $6m, and...
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Last
13.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.54M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 180922 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 100000 | 1 |
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| Last trade - 16.12pm 12/07/2024 (20 minute delay) ? |
| BUR (ASX) Chart |
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