I have lost count as to who is winning the battle here.
Although nobody thought the SP would drop this low (not even I), I have to say that DRG is a screaming buy now.
Let me explain...with some sound maths.
With approx $10mill in the bank (cash, options money and trinity money) DRG has a cash backing of about 16c.
This means the market values 80m and 60m of possibly hard coaking coal over a 3.5km strike (its going to be at least soft coaking coal) at 3.5c or about $2mill. The market has seemingly lost sight that we paid $8mill for EIGHT tenements (we have only seriously explored ONE) and now have $10mill in the bank. We have fallen below our $18mill asset value (if you assume the tenements are still worth $8mill).
Before everyone falls off their chair, yes this is a positive post by Vic. In fact, I couldnt help buy a few at 20c on Friday. I just hope I can recover some of my money by purchasing a few below fair value.
on the way down to 8 cents, page-20
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Last
$2.03 |
Change
0.030(1.50%) |
Mkt cap ! $2.390B | |||
| Open | High | Low | Value | Volume |
| $2.03 | $2.06 | $2.01 | $7.893M | 3.882M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 178236 | $2.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.04 | 77587 | 9 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BGL (ASX) Chart |