RE: A G M15 Nov 2024 16:34
Current Market cap -> 61m, loss making, non producer with no cash, cant sell, in high risk jurisdiction and taken out loan on very unfavourable terms, so how is 61m justified? you cannot count any assets as they are in the ground and cant be extracted and sold.
So with all the good will in the world 1p = 30m market cap, still too high based on above.
Actual value IMO is 10m tops and thats being generous, around 0.35p/share, not saying it will get there as the market always likes to price potential even if EUA's case + add WK, fair value in current situation is around 1p expect post placing to fall to around 1.25p.
AIMO and i have given my rationale unlike plucking numbers out of the air like some folk do, hence have revised by target from 1.75 to 1.35p which to me is worth a punt and minimise's considerable risk.