This has got an incredibly long way to go imho but it won’t all happen in a couple of days. Rerates take time. People will buy, some will sell to trade. Then end up chasing the bid. Better to buy what you can on dips and play the long game here I reckon.
Rerates don’t happen all in one day. This will continue to build from here toward a more realistic true valuation of the transformational deal with Newmont. Any further news in the short term may create a shorter term spike due to liquidity but I’d say from here this is a keeper.
People need to realise. Newmont take 20% no usual funding. They don’t plan to sell. They want to develop. They will take higher % it’s all in the rns. 20p is cheap, 10p silly cheap.
DGOC is doing 60,000 boepd with a mcap if 582m so on your figures that’s 10,000 boepd per £97m of mcap. Their production costs are @$7 per barrel, they now pay 1/4rly dive and have no drilling risk. Just saying.