A new MUS valuation from Independent Investment Research has just been posted to the MUS website.
A slightly lower valuation is a consequence of the financing facility that has just been arranged. Base case risked share price has been reduced from $0.169 per share to $0.16 (12 month targets). This is reasonable to account for the additional liability associated with the finance facility. Details of the financing including the convertable notes are included in the updated research report.
For both cases shareprice (May and August reports) share price was discounted by 80% to account for risk, noting that the operation is still only at the bulk-sampling stage and test drilling / exploration is still underway to support a full JORC. A JORC has also not yet been started for the graphite.
Summary of latest August 2017 valuation:
http://www.mustangresources.com.au/...x/PDFs/2452_0/UpdatedIIRResearchReportAug2017
The last research report (May 2017) had the following valuation:
http://www.mustangresources.com.au/irm/PDF/2335_0/IIRMustangResearchReport24May2017
New MUS Independent Valuation
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