And how much could that be worth roughly? If I recall correctly, Focus only has something like a 10% interest over one small pit. Perhaps if they sell the Coolgardie project as suggested in 1 August 2018 someone might offer a few pennies for it.
No, I think the price is falling because the company isn't doing anything to add value.
From their June Quarterly: "A three-hole diamond drilling program at Bonnie Vale was concluded on 21 April 2018". There's been no indication of future work and no news since - which is reasonable since they are trying to sell Coolgadie.
Also from the June Quarterly: "Personnel and drilling contractors mobilised to Laverton on 27 June and RC drilling began at Karridale on the 28th. One RC hole to 139m was completed and another started in the remainder of June 2018. Geophysical gravity & passive seismic surveying commenced at Lake Carey on 19th of June and was partially completed on 22nd June. The program is ongoing pending further dry out of the lake survey area".
No news since then suggests they're either a) behind or b) not hitting what they expected.
They last posted a $34 million bank balance. Selling Coolgardie will eliminate their ability to achieve short/medium term gold production so I assess the likelihood of them mining within 5 years as approaching zero. Who would buy into this outlook?
With a bit of luck, they'll realise that the gold in Coolgardie is worth extracting and instead of selling it, they'll refurb the mill and process both their own ore and run a toll treating operation. There is crazy shortage of milling capacity, as evidenced by CM1 only having secured tolling (at an undeclared cost) for 100,000 tonnes of their 1.8Mt ore reserve - and they're already mining! At a $10 tolling margin - which would be very cheap in this market, they'd make back the cost of a refub in a single year and have a brand new mill through which to process their own and other company's ore.
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Mkt cap ! $55.87M |
Open | High | Low | Value | Volume |
19.5¢ | 20.0¢ | 19.5¢ | $14.07K | 72.15K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 26266 | 19.0¢ |
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Price($) | Vol. | No. |
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19.5¢ | 25650 | 2 |
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No. | Vol. | Price($) |
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1 | 26266 | 0.190 |
3 | 121454 | 0.185 |
2 | 35000 | 0.180 |
1 | 7852 | 0.175 |
1 | 80000 | 0.170 |
Price($) | Vol. | No. |
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0.195 | 25650 | 2 |
0.200 | 55137 | 1 |
0.205 | 27000 | 2 |
0.210 | 7115 | 2 |
0.240 | 15509 | 1 |
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