Market cap currently approx. $7 million.
What is Company worth ? As indicated in the latest announcements, the Company plans to take the higher grade ore and be in production before end of year at a 3rd party facility. Even at A$1,300 per ounce, within a few months they could produce 30,000 ounces at a profit of $500 per ounce. i.e. 15 million dollars profit.
Who knows how many other higher grade areas they might have !!
Maybe they prefer that Shareholders don't take up their $5,000 entitlement. They prefer not to have any more dilution at these levels. Maybe they are happy to see the share price sit at around the offer price.
The fact is after looking after their friends at 8c and 10c they had to offer Shareholders a token amount of stock at the 10c level.
It is a no brainer at 10c.
Market cap currently approx. $7 million.What is Company worth ?...
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