I've watched this company from afar but never bought due to the high market cap.I am surprised the company is still valued at $500m, with only $30m in the bank.
This is, of course a pre-money valuation as a cap raise is required to develop SNE, if it even happens, and a cap raise soon to get to that raising.
Add to that time-based discounting of the SNE valuation and this is very expensive.
That was a large fall considering the Samo well was a long-term development. Goes to show that too much value was placed on the prospect and success or fail the SP was too high in the first place.
Where to now?, page-16
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Last
52.0¢ |
Change
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Mkt cap ! $48.05M | |||
| Open | High | Low | Value | Volume |
| 52.0¢ | 52.5¢ | 51.5¢ | $289.9K | 557.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1960 | 51.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 52.0¢ | 103276 | 2 |
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| FAR (ASX) Chart |