seems like a fine enough investment, tin in nsw ~200km from brisbane and only $5m for a quarter of it, I don't know much about the taronga project but we don't appear to be overpaying even with tin at $35k right now. 4.0c seems to be a pretty reasonable discount to 1SN's share price through 2024 and a solid ~20% discount to its price a week ago, with 1SN's line going down and to the right continuously for the past few years. although I'm guessing that's a bit misleading and we're not really buying it at the cheapest it's ever been, instead the SP has dropped over time with probably a fairly constant market cap due to SOI increasing while they raise cash..? Anyone been following 1SN in the past and have a bit of context on that?
i had a look through some of their reporting on the LSE and it looks like they IPO'd mid '22 and had 19M GBP in cash plus whatever market cap, issued 20M GBP further in 2023 to get Taronga, but now in 2024 for 2.5M GBP we can own nearly a quarter of the company? seems too good to be true so I assume i've misunderstood something in the LSE-formatted reporting, presumably no matter how much of that raised money was burned inefficiently, enough of it was sunk into exploration or the purchase of Taronga that the valuation of it all at ~10M GBP is quite a reasonable price..?
@arsenic@Ronzo1010 Names who have mentioned Taronga in the past (Ronzo1010 with an ancient mention of MLX buying it, too)
MLX Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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