A bloodbath in the markets - I remember the October 1987 crash only too well and this feels horribly similar although for different reasons.
COI’s Market Cap of $63m is madness and we are left with a spinning coin with ‘problems' on one side and ‘opportunity' on the other – not knowing on which side the coin will land.
On one hand the company is in exactly the same ‘shape’ today as it was a few weeks back – with the same opportunities as we move towards production at Mahalo/Mahalo North and quantify the gas viability/value of the Galilee Sandstone Deeps – on the other – with such a low Market Cap this will throw up all sorts of problems with regard to future funding and getting a sensible objective true valuation figure should we wish to sell out early.
This must be keeping our management awake at night.
Tough times for sure.
COI Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
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