Europa Metals Ltd (AIM:EUZ, JSE:EUZ) expressed a degree of frustration over the slide in the share price using the LSE's news service to voice its dissatisfaction.
Since resuming trading on AIM last week, the stock had, by the close of play on Thursday, fallen close to 19%. The company insists there’s no reason for the drop and argues that its shares are trading well below their implied value.
Europa holds seven million shares in Denarius Metals, which, based on recent pricing, suggests an underlying value of between 2.5p and 3p per Europa share—far above its current market price.
Well, the wake-up call had the desired effect as the shares jumped 34% in early trading - though, at 1.56p, there still seems to be plenty of upside based on the company's assessment of value.