Undervalued ????18 Nov 2015 12:09
Trading Agreement in place for 500mt + recently received $5,600,000 cash injection in settlement + Net assets worth $50,549,000 . . . . hmmm
The net assets of the Group were $50,549,000 at the period end and cash balances were US$6,994,000 (2013: $18,748,000) against a current market cap of approximately $16,100,000. Subsequent to the period end, we have received a cash injection of approximately $5,600,000 through the settlement of certain claims relating to our legacy oil and gas assets which, in combination with the platform we now have in place, will allow us to continue with our development plan.