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trading at 134m market cap. cash at 200m.

  1. TwinTurboCelica
    10,131 Posts.
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    30/10/12
    14:10
    Post #: 10931227
    Hopefully someone can clarify this. Does BSE have 560m shares on offer after the raisings?

    I've gone through the 3B's and it appears after the $40m capital raising at 40c, they have 560m shares on offer now.

    A few calcs at these prices and it appears these guys have raised over $200m in the last few months ($160m at 55c and $40m at 40c).

    Given the above, the market cap at the current 24c is only $134m, or a 35% discount to their cash holdings. Thoughts?
    BSE Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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