You're right, this isn't guaranteed quite yet. The last of the approvals need to be finalised, finance needs to approved and construction/refurbishment needs to be completed. But it's highly likely the first two occur before July. And beyond that, the risk of failure is drastically reduced.
Is there still a risk during the construction/refurbishment period? Absolutely. But the potential downside is limited at that stage. Perhaps CYM takes a few months longer than expected. Or Perhaps CYM runs over budget and needs to raise an additional $20m in funds.
But fundamentally, even with those risks included, the project is far too economical to stay at these prices. A regular discount for most companies post finance would be 25%... If this applied to CYM, the share price could be sitting between 52c and $1.05c...
Even a 50% discount applied to Nifty would see our market cap / share price at a minimum double; and a 50%+ discount is typically reserved for projects with high sovereign risk, like some speccy junior explorer in the Congo.
A 18c share price or below just doesn't make sense. Tier 1 management. Tier 1 location. Tier 1 resource. 75% of the way there. Go figure.
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Last
2.9¢ |
Change
-0.001(3.33%) |
Mkt cap ! $44.25M |
Open | High | Low | Value | Volume |
3.0¢ | 3.0¢ | 2.9¢ | $43.10K | 1.450M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 77359 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 120000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 173859 | 0.029 |
7 | 1212322 | 0.028 |
1 | 285000 | 0.027 |
3 | 565000 | 0.026 |
5 | 1529201 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 120000 | 1 |
0.032 | 312531 | 1 |
0.033 | 50 | 1 |
0.034 | 220000 | 1 |
0.035 | 242524 | 2 |
Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
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