10c is an arbitrary valuation. If they don't put Nifty on C&M or miraculously get it working it will continue to be a cash soak and the company probably isn't even worth 10c.
Renison is a great asset and the market can't appreciate how much better it will get because of the Nifty killer. Put Nifty on C&M and Renison will easy pay for C&M costs and a tidy profit as well. Digging into book values of infra is useless.
As an aside it's pretty ironic that the company that got spun out of MLX is now worth 7x the valuation of MLX.
They should have just spun out Nifty into its own ShitCo and kept Renison and the gold projects (easy to say in hindsight). Funny how those cycles work.
Weekly chart for MLX - Terrible news for investors, page-45
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Last
41.5¢ |
Change
-0.010(2.35%) |
Mkt cap ! $376.0M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 43.5¢ | 41.5¢ | $449.2K | 1.059M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 252303 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 28991 | 1 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| MLX (ASX) Chart |