I have done a full analysis of the resources - HAS (ASX) are 8 x our valuation with the same resources, a little bit further down the line but same cash - same debt (none) . Go figure.
Supply squeeze / US interest / EU interest / same resource but 7 times lower valuation than Hastings (ASX) / 20x more resources than RBW at same MC / £9m in cash / no debt / free carry / BoD with skin in the game / friendly jurisdiction / easy mining "we can just take down the hill".
All for £10m market cap .
Baggy - I really don't know what you are on about with the "debt" here, I can clearly state that is one of the healthiest balance sheets (sorry IFRS snobs, i trained in UK GAAP) i have seen in a sub £10m MC stock. Total currents assets $11,186,797. You cant really count related party liabilities - mostly what we owe the directors in deferred sals - its a pissy amount anyway ($225k) - the warrants are only classified as a liability given the SP strength. i am going to ignore the AP balance unless you expect them to stop operations altogether.
Brilliant update - thanks for taking the time to do this Baz . I think the external interest will heat up during 2019 as we continue to update the market - that could provide a serious boost to the SP (Given we should really be at 20p plus in fair value alone ) .
do we know that the TDL 140 wont provide SAS? didn't we build / provide the Nexeed platform? i would imagine we have some form of revenue share built in. ?
Knowing how big PLC and NGOs work , they are all about the credentials . When we tendered for this, we had the products , but none of the references . Now - we can add 76bn turnover conglomerates. Big boost to our chances .