You could argue that the price might be higher... 2/3rds of the company market cap is in cash, they are getting a free carry on one mine exploration and owns 100% of another. Gold in AUD terms is up 9% YTD.
I wonder if management ran a proper process to sell Dargues and Henty, closed Bendigo (which they are on the path of completing) and sold all other equipment etc they would likely achieve a far higher price than 0.029c.
The problem is an incompetent management team.
Small Mercy, page-2
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