Hangseng, BKY has been shredded in the past few months but I'm curious if buying a small ball holding at its current price has crossed your mind?
They have been troubled by a challenge on their feasibility study by ENUSA due to a socio-economic reason if I am not mistaken. As a result of this, their federal mining license is at risk of being lost and this is the reason for the share price dropping the best part of 75% in half a year. The worst case scenario is they just keep their local mining license but continue with developments as per their BFS and should commence production about 6 months after PEN.
At current prices...
Worst Case (only keep the local mining license): $52M cash + 17Mlb resource -> EV = $0.7/lb
Best Case (federal mining license approved): ~$22M cash + 75Mlb resource -> EV = $0.56/lb
PEN is currently trading at about $3.50/lb
This is not a cross promotion or ramp by the way. Just asking for your opinion.
Hangseng, BKY has been shredded in the past few months but I'm...
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $334.3M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $1.047M | 10.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 70 | 9842754 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 4002799 | 32 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| PEN (ASX) Chart |