By the time they got the cash from the 100m placement and paid all remaining creditors there was only about $500k left, declining daily as Winton Willessee et al take their daily scope from the til.
I assume you are using "EV" to show significant prowess in acronyms and are referring to Enterprise Value not Earned Value given there is no significant project but even using Enterprise Value is rather arbitrary as MNE is in a stalled state and not generating any revenue of significance.
Sure JB and others that have taken up the options will want to see a significant improvement in the ordinaries market price before they convert but they will mean pulling in a deal for MNE and that will also result in a major dilution and I haven't seen (or heard) too much action in the market that makes MNE a standout for a reverse takeover.
MNE Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held
