OXX have a mkt cap of $29 million.Cash $21 m less $7 m this...

OXX have a mkt cap of $29 million.
Cash $21 m less $7 m this quarter, so $14 m

So how do you possibly get the idea they are trading below cash backing.

OXX is overpriced IMO

They have drilled their top 5 or 6 prospects are found nothing commercial. One can only presume the balance of their portfolio is pity sub-standard.
Their best asset is their interest in PKO.

I hope they do offer cash for PKO, as i dont want OXX prospects. The mgt seems good though.