Stock: MHM
Business: Aluminium, Silica, Gold and Base Metals
Shares: 87.5M shares, 27.5M 20c options (approx 115M total)
Share Price: 29c (Fully Diluted cap $33m).
Current share price driver: Aluminium Plant upgrade and US Expansion.
Brief Overview of AL: MHM have a 60% share of a Victorian AL recyling plant that treats the waste from all the Aluminium produced in Australia. Contracts with SIMs and Alcoa. MHM have the rights to buy the other 40%. MHM treat the waste at $300 a tonne. MHM own 100% of the outside Australia rights.
The plant is currently being upgraded to include the MHM technology, and expected to generate $8m profit per annum with completion for Oct 2010. US Plants with 20 - 40 times the volume (20 - 40 times the profit).
Projected profit: $8m when Australian plant is completed ($2.5m before completion).
Fair Value of Australian Plant at PE of 10 = $80m market cap (70c a share).
Fair Value of US Plants (based on 20x volume and $160m profit) at PE of 10 = $1,600 market cap ($14 a share).
Additional Upside: Plants in additional countries. Silica Offtake.
Price Target: $3.50 (70c + 20% of US Fair Value).
Timeframe: 3 - 12 months.
Rerating Factors: Completion of Aus Plant. Deal on US Plants. Silica Offtake.
#Note# The above is purely MY musings, and what I based MY holdings on. Do your own research.
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34.0¢ |
Change
0.005(1.49%) |
Mkt cap ! $142.3M |
Open | High | Low | Value | Volume |
34.0¢ | 34.8¢ | 33.8¢ | $209.4K | 610.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 11459 | 34.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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35.0¢ | 224488 | 4 |
View Market Depth
No. | Vol. | Price($) |
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1 | 11459 | 0.340 |
1 | 4545 | 0.335 |
1 | 10000 | 0.330 |
4 | 96593 | 0.320 |
2 | 4028 | 0.315 |
Price($) | Vol. | No. |
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0.350 | 224488 | 4 |
0.355 | 52783 | 2 |
0.360 | 113935 | 2 |
0.370 | 135135 | 1 |
0.385 | 30000 | 1 |
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