I was just thinking that at these seemingly "ridiculous" prices a say 1:3 consolidation would get us to only 220 mil shares outstanding which looks a lot better than the near 700 mil currently on issue.
This would make the price around 75 cents where we should be anyway with our cash, reserves and daily production.
The PE ratio would remain the same after the adjustment...what are we trading on now 1 or 2 ???
As a bonus it may lessen the impact of those parasitical short sellers and bots.
A share buy back would be pointless with 673 million shares out there to make it look better.
Its sad that on a day where the dow is up 900 points and our own market with triple digit gains plus the extra oil we now have flowing that we are only 1 half of 1 cent up on the day ... the way things are going we may even only break even unless there is late institutional buying.
So any thoughts people ?
I was just thinking that at these seemingly "ridiculous" prices...
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Last
16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.0¢ | 15.8¢ | $136.6K | 855.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 166365 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 184462 | 4 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| CVN (ASX) Chart |