It is very difficult to build a value for MHC's uranium resource into the current share price / market cap. While the resource can be worked out economically at current uranium price, the actual value can't be applied until WA lift the ban on U mining if/when that might happen.
I could be wrong but I don't attribute much, if any, of the recent share price appreciation to MHC's uranium resource and increase in uranium price. It's definitely a nice diversified play that they have up their sleeve but the shackles on it are locked at present unfortunately. Hopefully the WA government re-look at their stance on U mining in the near future.
The appreciation and current re-rating of share price I think is almost entirely attributed to the recently acquired Tibooburra project and anticipation of the current drill program that has commenced. Historic drill intercepts suggest this could be a very exciting gold project.
MHC Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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