Oversold and undervalued25 Aug 2023 11:54
'As at year end, cash balance stood at US$ 7,746,519 (28 February 2022: US$ 7,327,303), capitalised deferred mining, exploration, licence, and permit costs stood at US$ 9,574,266 (28 February 2022: US$ 5,732,820), and total assets were US$ 18,198,559 (28 February 2022: US$ 13,354,840). The Company is in a net asset position of US$ 16,984,940 (28 February 2022: US$ 12,257,165).'
'The Company continues the process of actively pursuing recovery of the US$ 600,000 fraudulent payment made to an unidentified party, as disclosed in the prior year accounts. The Board will provide an update once further progress has been made.'
MCap only £15.43m, barely more than the NET assets of £13.48m which will go up a lot on the increased reserves report in mid September.