If anyone were to take it out, its likely to be RIO. They've got a huge Weipa operation and once MMI is close to 10m of production, its a material operation (RIO would have no interest in 3-4m per year which is what they've been). MMI have good tenements all around the RIO ones and once they start drilling will convert the resources. The valuation is correct - once the long term debt is paid down/restructured and production hits reasonable levels - say 2.5m a quarter - then 7c is cheap and 14c starts to look reasonable.
Ann: Trading Update, page-10
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Last
5.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $321.5M | |||
| Open | High | Low | Value | Volume |
| 5.4¢ | 5.4¢ | 5.1¢ | $833.1K | 15.86M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 571521 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.4¢ | 3098697 | 6 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| MMI (ASX) Chart |