Unfortunately none of the $2.4mil in net profit/pa actually shows up in their audited accounts to 31Mar08 due in large part to foreign exchange losses - it would seem that the bulk of their $A8mil in cash is held in a USD account for some strange reason.This cash is also probably held in their Cayman Islands registered subsidiary - you have to ask yourself why they need such a subsidiary but it has only been registered since the Chinese gained control of Lion.
Unfortunately the 2.5% Working Interest in the Seram JV translates to a 1.5% Net Revenue Interest.
I still think it looks undervalued but this stock is not without its risks.
Unfortunately none of the $2.4mil in net profit/pa actually...
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Last
2.2¢ |
Change
-0.003(12.0%) |
Mkt cap ! $9.613M | |||
| Open | High | Low | Value | Volume |
| 2.5¢ | 2.5¢ | 2.2¢ | $6.98K | 314.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 231927 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.6¢ | 1413479 | 1 |
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| Last trade - 15.54pm 10/10/2024 (20 minute delay) ? |
| LIO (ASX) Chart |