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Is that not perfectly normal for AIM stocks these days? The market no longer cares unless there is some colossal story to get involved in.
The NAV is 203p per share, is that correct? You could add a zero to the number of shares in issue to 390,000,000 and the company would be on PE of 8 or 9 with a market Cap of £130m and a NAV of 20p per share. QUITE extraordinary.
Consistent with many AIM stocks though, they've become literally detached from their share price representing them? Nobody cares, like the share price correlating with revenue doesn't matter anymore?
The market cap is £15.4m, but they're selling 2,700 barrels of crude a day? So like $218,700 a day? So they'll earn the Market Cap in revenue in about 103 days ?? The annual revenue could exceed $78m ?? So the market cap is 3.5 times lower than annual revenue? What am i missing?
I think the market is currently missing the certainty that Havieron will get mined.
Either an external buyer comes in and takes out Greatland for about 18p a share, or we buy rest of Hav and Telfer and have an asset value of somewhere between 37p and 49p per share depending on inflation and gold price factors. THAT WILL BE OUR SHARE PRICE, as the debt will be squared off over 3 years at expected production rates.
But here we are at 6.7p, ho-hum...
After a strong performance from SD and clarified prospects, I'm in no doubt that Hav/Telfer can be bought out, all in good time. But this means we temporarily have to suffer an infection of day traders. I know the territory well, I can remember making £4,800 in a day on Asia Energy thinking I was king of the world.
I believe SD was very clear in the webinar that the lower aquifer was consistent with expectations in Australian mining, and once drained and de-pressurised then decline to the base of the aquifer would be straightforward and the rock layer then is incredibly easily workable and gives almost immediate access to the top of the ore body.
They can't start building further decline into a full aquifer ! So of course they paused the decline to dewater and depressurise.
I am hopeful ActusRay Bastards will soon see the lows are in and start buying back, who knows if the 5m and 7m chunks are this very happening already!? We are at base asset value on the SP, what fresh lows could come?
The offer receiving company, Newmont, would need to confirm IF they have received an offer, almost certainly at 10am, which is 3pm UK time. Greatland cannot announce that they have made an offer.
My personal opinion is now that Shaun will announce that Greatland are "looking into the possibilities" but can't confirm anything at this stage. He will repeat "we're looking into all possibilities" endlessly and then fly home.
Mibb
As I said yesterday, if Shaun turns up at the Webinar and Town Hall and bangs on about how great it is that Newmont have confirmed the MRE blah blah, then he is going to get torn apart, and he 100% knows that. Nobody could turn up and do that, nobody!
He IS NOT allowed to make a major, price-sensitive announcement at a Town Hall event, it LEGALLY has to be an RNS. So there has to be an RNS on Monday or Tuesday or he's made a colossal misjudgement of how GGP investors feel right now and will be "torn apart" along with the SP (hypothetically speaking).
Another post, just for Redirons. Even doubling the share capital will only raise a third of what is needed. SO! Either Shaun is being sent into a den of vipers, or there is A PLAN, and he is being sent into a champagne celebration...! He's going to need thick skin to come to London for back-to-back events just to say that Newmont have confirmed the MRE!! So someone, somewhere has hopefully got a billion dollars to splash, or ActusRay are going to have finally got something right!
Well Redirons, you can't believe it? Really? Maybe I only posted on ADVFN for a long time, and then thought I'd join in here? I was also too bored by Greatland to be involved and the amount of trolls puts me off posting for months at a time.
I've just enjoyed being right on Empire from 2.4p, and the same is about to unfold here methinks. Mehopes.