Just a quick calculation to show you the market valuation of Galilee snadstone.
"If the company raises the full amount, it will have a market value of about $52.8 million on listing."
The equity value of 52.8M and debt value of $50M mean the enterprise value of vintage will be $102.8M.
Vintage only asset is 30% of the Comet Galilee sandstone reserves.
The entire field is therefore valued at $342.7M (being $102.8M /.30 = $342.67M )
Comet owns 70% being $ 240 M (342.7 x 70%)
Comets market on Friday 244M.
So either Muhalo (the largest untapped csg reserve in eastern Australia) and are very large chunk of the emerging Galilee basin are worth $4M between them OR we are massively undervalued.
I am absolutely sure its the later and I expect Comet to drift up to 50c even without reserve upgrades that are coming.
GLTA
Just a quick calculation to show you the market valuation of...
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Mkt cap ! $188.3M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.5¢ | $12.67K | 76.68K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 289623 | 16.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 245730 | 5 |
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