well below cash backing...

Interesting to see EUG at this level.

The cash position may be $10m after the settlement of the Oxus case, payment to IMF an receipt of $3m in relation to the disposed of project when a regulatory milestone is met.

From my reading it appears that IMF have 320m shares on issue. At a price of 2.5c that makes the market cap around $8m.

Given that EUG should eventually have a cash backing higher than the current price and is pursuing new opportunities in the resource industry it appears to be a potential mover in coming months imo.