Could anyone shed a differing opinion as to why BSM is such a low share price?
I have done my own analysis (Fund and Tech) on BSM and cannot understand why it is trading so low.
- Market Cap: $20mil
- Cash: $6Mil after Mil purchase
- No Debt
- Mil purchased at $4Mil (replacement value of $100Mil)
- Around 1Mil oz of gold tailings to be produced.
- 8Kt of Ore on standby
- Mine feasability at Hellyer/Fossey expected to be funded from Que River
- 50% operating profit on Ore mined with a mix of five metals (protection from movements in a single metal)
- NPV (as per BSM of $26Mil) but this is a conservative estimate
- From production/sales of their open pit mine at Que River they should have almost $9-10Mil in Cash by the end of June.
Also trading with low liquidity (today .15% of shares traded), which I cannot understand given it is one of the few miners trading at a profit at the moment.
This is not a ramp. I would like someones alternate perspective on why this is trading low (i.e. market/credit/legal risk, mine life)?
Am I missing something?
why is this so cheap?
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Last
4.5¢ |
Change
-0.005(10.0%) |
Mkt cap ! $8.156M | |||
| Open | High | Low | Value | Volume |
| 4.5¢ | 4.8¢ | 4.4¢ | $16.39K | 363.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500000 | 4.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.9¢ | 200000 | 1 |
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| Last trade - 15.44pm 28/06/2024 (20 minute delay) ? |
| GW1 (ASX) Chart |