After reading the annual report, I think it's safe to say CHN is in uncharted territories !!!
There's so much exploration work needed to be done and Eritrea looks much like becoming a distant memory with low grades killing any hopes of a potential gold mine !
While $55 million in the bank sounds good, a lot of shareholders will be diluted once the Coventry merger goes through, and you will need a gold price of well over $1440 for those mines to be economically viable in any case!
Management are taking such a big risk hoping the gold price will stay higher for longer.
Ann: 2013 Annual Report , page-2
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Last
$1.37 |
Change
0.025(1.87%) |
Mkt cap ! $571.8M | |||
| Open | High | Low | Value | Volume |
| $1.33 | $1.37 | $1.31 | $2.349M | 1.749M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6763 | $1.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.37 | 1808 | 2 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| CHN (ASX) Chart |
