Just something to think about.
Bell potter puts a vaue on KAR's 40% of browse at $845m which is $3.32 a share.
Depending how dire the situation is if i was KAR management i would rather not sell now but wait till a definitive resource was proven then sell, not all but 20%.
Seeing the amount of money and effort put into the browse i would IMO do an equity raise to see them though the next drill in browse and the 2 upcoming Brasil wells.
This in my opinion is the hold up here.
Going this far with these 2 projects and being forced to take less for the assets because of a lack of definitive resource beggars belief and i am guessing management would be loathe to do this unless desperate.
That's why it's taking so long.
I say tap the market, as they have always done, and get on with it.
This will be a true test of who is running the show.
Just something to think about.Bell potter puts a vaue on KAR's...
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Last
$1.77 |
Change
-0.005(0.28%) |
Mkt cap ! $1.421B | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.80 | $1.76 | $6.200M | 3.491M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8844 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 45424 | 1 |
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| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |