Not a single buy on what i'd have thought was a very positive update...
This stock is a corpse!!
Market Cap AU$171M
Less US$60M cash..
Less a tiny $30M for Mt Ida and Mt Mason (derived from the joint market caps of Legacy and Hawthorne who share the Mt Bevan project next door even tho JMS projects are more advanced)
Leaves a very rough calculation of $80M for half a profitable Manganese Mine with a 60 year mine life.
Probably less than what you could build it for. Which they reckon they were offered $500M for last year before it was even up and running...
Add to that, the Chief Executive is buying as much of the stock he can get his hands on..
Go figure. I can't work it out. :-(
JMS Price at posting:
7.5¢ Sentiment: None Disclosure: Held
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