The shares are worth precisely 33c a share !
The reason? That's how much it equals its net cash backing right now
After it pays the 10c capital return - it would equal its net cash backing of 23c a share
But of course further acquisitions and capital spending will reduce the amount of cash in the bank and before long that net cash backing of 23c a share will disappear ......
Considering it cost CHN to find and drill Koka for $10 million, it should cost a similar amount to drill to JORC stage the Mogoraib North which would imply a 4c discount to the net cash backing - 28c per share before the capital return and 18c after the capital return
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98.5¢ |
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Mkt cap ! $383.1M |
Open | High | Low | Value | Volume |
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---|---|---|
3 | 11859 | 98.5¢ |
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Price($) | Vol. | No. |
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99.0¢ | 9115 | 1 |
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No. | Vol. | Price($) |
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3 | 11859 | 0.985 |
3 | 39975 | 0.980 |
6 | 105011 | 0.975 |
13 | 70018 | 0.970 |
5 | 55971 | 0.965 |
Price($) | Vol. | No. |
---|---|---|
0.990 | 9115 | 1 |
1.000 | 28976 | 4 |
1.005 | 56426 | 2 |
1.015 | 27000 | 2 |
1.020 | 50000 | 1 |
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