Looking at MLM who have a 45% stake in MTE could be a back door way of getting a cheap crack at MTE(at the moment). That is, if "a major" want to grab a large stake ???? Seems that MLM may be looking at using this 40% stake to fund their future plans without dilution.
I have been watching MLM in recent weeks, entered today because their value hasnt been tracking with MLM, realise they dont plan on keeping their holdings in MTE long term (listen to the FNN interview) but still lookin at market cap.....sill very undervalued too.
Just my thoughts !!!
No. Shares MLM hold Share Price Market Value $M MTE MetroCoal 176,683,663 Coal 45.3% 80,000,000 49.0c $39.20 CBX Cape Alumina 129,050,803 Bauxite *20.8% *26,867,621 30.5c $8.19 PMQ Planet Metals 59,717,114 Copper-Gold 76.2% 45,483,749 11.0c $5.00 ORM Orion Metals 79,597,443 Gold & REE?s 14.9% 11,866,658 22.0c $2.61 Total Listed Investments $55.0M Cash at Bank (28/4/2011) $4.1M Cash & Listed Company Share Investments $59.1M MLM Market Capitalisation at $0.315 share price $36.9M Shares on Issue (MLM) 117,070,654 117.1 M MLM Cash & Listed Investments / share $0.50 MLM Share Price at 20 May 2011 $0.315
MTE Price at posting:
61.0¢ Sentiment: ST Buy Disclosure: Held
