Fully diluted the market cap at 15c will be around $125m. My view is that even if they get Nifty cashflow neutral, which they should do by mid 2020, the sum of the parts is way in excess of $125m. They are not only “fixing” Nifty, there is a clear plan to lift Renison ( and they have had significant resource success there also).
About 18 months ago, respected Analysts foresaw value of around $600m for MLX (refer MLX website for all the old broker reports). Now, a lot has happened in that 18 months, and there are no guarantees in this wild world, but I can see a market cap around that $600m in the next one to two years, if the stated goals are achieved- perhaps sooner, as the market begins to “believe” in the turnaround. From what I see, this MD is a straight shooter and telling it as it is. Markets eventually like that.
The upside is even greater if they get Nifty truly profitable. Time will tell
Ann: Corporate Presentation, page-18
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Mkt cap ! $357.9M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 39.5¢ | 38.5¢ | $618.4K | 1.579M |
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| No. | Vol. | Price($) |
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| 4 | 143887 | 39.0¢ |
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| Price($) | Vol. | No. |
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| 39.5¢ | 6251 | 2 |
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| Open | High | Low | Volume | ||
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| Last updated 15.59pm 14/06/2024 ? | |||||
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