MEI

1.06%

9.3¢ meteoric resources nl

What’s going on, page-98

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McHale

1,751 Posts.

2205

16/11/17

11:55

Post #: 28848083

Originally posted by 88888acct ↑

Agreed. Minuscule market cap relative to peers. This is a strong BUY from here at $32m EV $34m MC (fully diluted with historical grades of greater than 10%) versus the likes of CLQ ($970m MC and .13% co), AUZ ($330m MC and .11% co) and ARL ($236m MC and .09% co). In terms of a high grade peer comp, EUC with similar historicals is trading at $200m MC and is probably undervalued at those levels. Thus MEI has a long way to rerate to a fair value.

Column 1 Column 2 Column 3

1 {colgroup}

2 {col=374x@}{/col}{col=100x@}{/col}{col=100x@}{/col}

3 {/colgroup}

4 Date: 09/10/2017

5 Share price: 0.063

6 MC Proceeds from Issue

7 FPO 461,227,190

8 Options - at an exercise price of $0.012 per share and will lapse at 5.00pm, (Sydney time) on 9.9.2020 9,000,000 108000

9 Options at an exercise price of $0.02 cents per share and will lapse at 5.00pm, (Sydney time) on 30.6.18 8,150,000 163000

10 Options each exercisable at 0.011 with a 3 year expiry date to various advisors to the company in relation to the acquisition, half vesting on a 20 days VWAP of $0.04 and half vesting on a 20 day VWAP of $0.08, at an issue price of $0.0001 each 60,000,000 $660,000.00

11 Performance rights 5,000,000 $0.00

12

13

14 Cash $1,300,000.00

15 Shares 543,377,190

16 Market Cap $34,232,762.97

17 Less cash and proceeds from issue $2,231,000.00

18 Enterprise Value $32,001,762.97

The need for a recap prior to their drilling campaign is the only thing holding them back now. Look at HEG post 10c placement, within a week was trading 50-75% and 35% on open. GL to people selling with the view to get in at or around placement price.

Cheers,

Expand

Thanks 8, the comparative numbers speak for themselves, I'm not selling any.

But some cobalts have been getting a caning last few days after a massive run last 2 months, bit of deja vue to earlier this year Feb Mar, same thing happened. But we've come a long way since then.

Fully believe this story is only beginning, keep the faith.

MEI Price at posting: 6.4¢ Sentiment: Buy Disclosure: Held

5 Upvote

0 Great analysis

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(20min delay)
Last 9.3¢		Change -0.001(1.06%)		Mkt cap ! $213.7M

Open	High	Low	Value	Volume
9.7¢	9.7¢	9.0¢	$585.1K	6.324M

Buyers (Bids)

No.	Vol.	Price($)
2	281440	9.2¢

Sellers (Offers)

Price($)	Vol.	No.
9.3¢	29618	3

View Market Depth

No.	Vol.	Price($)
2	281440	0.092
3	64978	0.091
24	1463892	0.090
3	201006	0.089
8	526545	0.088

Price($)	Vol.	No.
0.093	29618	3
0.094	50000	1
0.095	108695	1
0.097	4000	1
0.098	15936	1

Last trade - 16.10pm 09/10/2024 (20 minute delay)

MEI (ASX) Chart

What’s going on, page-98

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	Column 1	Column 2	Column 3
1	{colgroup}
2	{col=374x@}{/col}{col=100x@}{/col}{col=100x@}{/col}
3	{/colgroup}
4	Date:	09/10/2017
5	Share price:	0.063
6		MC	Proceeds from Issue
7	FPO	461,227,190
8	Options - at an exercise price of $0.012 per share and will lapse at 5.00pm, (Sydney time) on 9.9.2020	9,000,000	108000
9	Options at an exercise price of $0.02 cents per share and will lapse at 5.00pm, (Sydney time) on 30.6.18	8,150,000	163000
10	Options each exercisable at 0.011 with a 3 year expiry date to various advisors to the company in relation to the acquisition, half vesting on a 20 days VWAP of $0.04 and half vesting on a 20 day VWAP of $0.08, at an issue price of $0.0001 each	60,000,000	$660,000.00
11	Performance rights	5,000,000	$0.00
12
13
14	Cash		$1,300,000.00
15	Shares	543,377,190
16	Market Cap	$34,232,762.97
17	Less cash and proceeds from issue	$2,231,000.00
18	Enterprise Value	$32,001,762.97

What’s going on, page-98

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