I have seen this sort of valuation gap relative to cash balance on two occasions in the last 12-15mths alone. I have posted the codes of those two stocks already and the same thing happened in those cases. The price eventually rose to reflect the underlying value and the large dividend/capital return once the return was formally announced.
Until the sale is finalised, the cheque clears and we get an ex-div date I reckon sitting here watching it trade by trade is pretty much a waste of time unless you intend adding stock on weakness. Once we get an ex date then the buying patterns will change in earnest.
Drilling results are a game changer although I understand they will be coming out in 6-8weeks.
EXS Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held
