Few facts to consider:
Current Shares on Issue: 767.5 million
Current Share Price: 0.003
Market Cap: $2.3 million
Cash in Bank: $1.86 million (last quarter and operationally profitable so should be higher for this qtr gone).
Triggers for re-rate or SP increase, that we know of:
- Mt Pleasant re-entry (acid stimulation) or new well. I expect news on this soon.
- Napoleonville JV as previously suggested. Again, news can be soon.
- Kolo Licence well drill interpretation & new well planned. GGE own significant proven production ground there.
Until then any new deals, oil price increase, market awareness may push the price up. Soon the cash in bank will exceed market cap so any news may see a sizeable gain from the very low market cap.
GGE Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
