daytrade diaries... friday, page-130

  1. 7,117 Posts.
    Hey Kevi, since you always help me with charts here's thr fundies on MLI it looks really cheap based on their sale of Elsberg to DRD

    Mkt Cap 700m shares@7c= $49m
    Cash $21m

    The key to the valuation is that they sold their 50% interest in Elsburg which had JORC 170Mt'[email protected]/t Au + 0.004% U for $42m to JV partner DRD Gold

    WRGO (West Rand) which they own 100% they have JORC 322Mt'[email protected]/t Au + 0.0045%U you do the math but based on what they sold Elsberg for WRGO is worth $150m at least

    ERGO (East Rand) 50% JV with DRD, here they have a pre JORC Compliant Resource of 1.7Bt'[email protected]/t Au + 0.005%U and DRD is providing $15m of the funding, now again you do the math but this could be worth $400m based on what they sold Elsburg for
 
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