btw, dls was 2.2 for about 5 seconds - it had been trading at 2 all day and leading up
you're simple slap together - 2.2 X 4 is the most ridiculous method in evaluating stock valuation on an illiquid stock... try trading $10k of dls or tdo shares in one day and see how much you force down the market
While it appears the payables are current - the current cash turnover suggests that part of this is non-current and will not be paid within the year
Use the figures in the half-year statements and the quarterly cash flows rather than an off-the-cuff remark made to the AFR. Noel has probably meant the cash in deposits (which equates to the 12m and his description of "cash reserves" it adequate) with a further 2.5 cash at bank
I have never seen a company state a 'net cash' position when reviewing their liabilities and their cash, so for a valuating method yours, IMO, is rubbish. Until the creditor is paid, the cash remains in the property of tdo.
In my previous posts, you will note that i have mentioned that net assets are the best valuation methodology of the company, rather than SP. Also note that an off the books deferred tax asset would also be in tdo's income tax returns for the exploration expenditure. When tdo begin producing, this asset will need to be recognised.
TDO Price at posting:
9.2¢ Sentiment: Hold Disclosure: Held
