Value., page-222

If I could throw 2c in...

Until AUZ bring SCONI into production, MLM have lost nothing but a non-core asset. Most of the discussion on this site is about AUZ being a Disallowed and MLM having not moved SP wise and the ohh poor bugger us we could be a Disallowed. That might be so and well done to those who have profited from it... However MLM as it stands now will be producing a saleable product shortly (no company driven delays) - so are in a much better position than AUZ, who are completing a BFS.

If you take SP out of the equation you get a different picture - can AUZ sustain a $300M MC with no saleable product in the near future (12-18M)??? If AUZ comes crashing down to 2c ($50M MC) would that change peoples opinion on the deal? AUZ are caught up in the hype - time will tell if they can actually live up to that hype, and good luck to them, they've taken an asset that MLM couldn't develop in 10yrs and are progressing, but they have long from succeeded...

Don't let the SP of a speculative stock govern your opinion of a deal.