Looking page 81 of BOW's Grant Samuel report on valuation by Arrow's takeover.
MEL is undervalued compared with companies with no gas like ICN & COI in terms of 3P reserves + 2C resources.
MEL $0.03 (equates to sp of 58.1c)
ICN $0.05
COI $0.09
Using ICN's valuation, MEL's real valuation is 96.8c
Using COI's valuation, MEL's real valuation is $1.743
So either ICN and COI are heavily overvalued OR MEL is substantially undervalued.
Bear in mind, MEL has gas. ICN & COI have no gas.
bow's grant samuel report
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Last
0.3¢ |
Change
-0.001(25.0%) |
Mkt cap ! $4.342M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $301 | 100.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 7966665 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 9273848 | 12 |
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| Last trade - 10.04am 23/08/2024 (20 minute delay) ? |
| MEL (ASX) Chart |