CAG 0.00% 24.0¢ cape range ltd

cag/cagoa- green alert

  1. 258 Posts.
    Capre Range seems to be firming up today. Since the last announcement it has firmed from 4 cents and therefore it would seem that it has bottomed and downside is fairly limited with good upside from its Malaysian venture. I know that the company has overpromised and underdelivered and thats reflected in the price of the company on the downtrend for the last year. However its last announcement looks promising with venture with the bigeest telekom company in Msia. The Burma deal looks also good but question is raised as to how they can afford to pay. My attention would be more focussed to Msia where infrastructure across the country is still an issue and therefore cag technology will be well received. Plus Msia is in a recovery mode and should therefore be able to expend on technology.

    The directors have also been buying at this level. They should have cash in the bank as the convertibles were just recently issued and cag received a few million dollars for that. Which brings me to the next point of the new oppies which came with the convertibles. There is an issue of oppies at exercise price of 5cents (cago) but those expire very soon and currently selling at around 1 cent. With those convertible new oppies were issued again at 5cents but with more than 2years to run- it was selling at 1cent yesteday. Whne you think about it how could these oppies with same exercise price but with 2 years to run be selling at similar price of 1 cent. I guiess these oppies (cagoa) are farly new a couple of months old and people are not aware. I feel with their longer term they should be worth closer to 2cents ie undervalued at the moment. cag is current 5+cents and if it goes to 6.5cents, these oppies should be worth closer to 3cents, since in the morning to the tune of 1.5cents plus time value. Therefore I think they are great leverage.

    Have a look at both cag and cagoa and see what you think.

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