m/cap $55m, value of mte holding alone $65m

MLM: 128,777,710 Shares (post rights issue) x .425 = Market Cap $54.7m

Their MTE holding alone is: 80,000,000 shares x .81 = $64.8m

MLM is trading at a 15% discount to the value of their MTE holding, let alone their approx $10m in cash and another $10m odd worth of other holdings and 100% ownership of Nornico Project...

I understand the reason for the drop, but MLM is still hugely undervalued at this point.