http://www.*.com.au/companies/news/347/-strike-r...

http://www.proactiveinvestors.com.au/companies/news/347/-strike-resources-under-cash-backing-and-moving-to-production-0347.html


Comment by Andrew McCrea


Strike Resources is in excellent financial shape due to completing two capital raisings totalling $82m to institutional investors during the year. It has $72 million in cash in the bank.

Strike is currently trading at a 69 per cent discount to cash backing at a share price of 38 cents. At or around cash backing, Strike Resources represents an interesting value proposition with Berau Coal cash flows coming on



stream in 2009 and appears undervalued.



Fast Facts


Strike Resources Ltd: (ASX Code: SRK)
Share Price: $0.38
Shares on Issue: 130.0m
Cash $72.0m Debt: nil
Cash backing per share: $0.55
Market Cap.: $90.3m
52 Week Price Range: $0.38 - $2.81
Substantial Shareholders (%)
Gallagher Holding Ltd 14.0%
Orion Equities 9.9%


What I don't get is where they get a m.cap of $90.3m if there's 130m shares =printed 30 october