almost free

Metrocoal are targetting 1b tn of coal. MLM 87%.

Cape Alumina are targetting $250-300m revenue from their Bauxite project. MLM 40%. $100-120m revenue.

And their 'flagship' Ni project is going to be producing income in a couple of years.

NORNICO resource 35.5Mt @ 0.73% Ni for 259,000 tns of Ni, IGV $5.7b. Aims to be producing 1Mt per annum for 7500 tn Ni = $16.5m revenue.

Also,

Lucky Break Ni JV (FMC 40% manager, MLM 60%)
Plans a 250K tn plant for 1600 tpa Ni = $3.5m gives MLM $2.1m revenue.

25m COK shares at 90c = $22m.

$5m in cash.

Current MC about $50m.

So, that values the above project at $23m ish.

Crazy. Way undervalued.