Bubs, makes a fair point….but there are many ways to structure a deal and I for one think a JV makes sense on Cane Bore. Leverage MIN RES capability FOB $45US+ a margin still leaves a good profit for M4M, gets it to market sooner and generates cash flow to fund the leg work on the other opportunities. From memory top 20 shareholders hold 40% of the stock and top 50, 60%. Pretty sure they’ll be keen to limit/ avoid dilution and history suggests none are in a hurry to sell down their positions. Given the growth ambitions MIN RES has for its iron ore portfolio and Onslow port this feed source on the surface looks like a no brainer.
M4M, page-413
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3.4¢ |
Change
-0.001(2.86%) |
Mkt cap ! $122.3M | |||
| Open | High | Low | Value | Volume |
| 3.6¢ | 3.6¢ | 3.4¢ | $85.61K | 2.446M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1597567 | 3.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.5¢ | 129415 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| M4M (ASX) Chart |