Reading this thread this morning it is clear that despair has started to set in. Perfect time for some contrarian purchasing. Yes MNC will need to raise capital - I'd estimate it could want 50-100m over the next couple of years. However LC is a great asset that will be shown to contain a minimum 7mt Cu while Mallacas can provide a cash flow bridge that assists MNC to fund a DFS and infill drilling (estimated cost $300m). MNC management have done a sterling job so far (although in retrospect they would have liked to raise another 20m at 38c) and, ignoring the SP for a moment, the company is progressing well.
Against this backdrop the options look a steal. I held a few hundred thousand which I sold (somewhat luckily) at 25 and 26c and I can't help feeling buying them back at or under 3c and is well worth the risk. I see no reason that the SP won't put these in the money before expiry. DYOR but remember fortune favours the (contrarian) brave.
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- amid all the doom and gloom, i'm buying oppies
amid all the doom and gloom, i'm buying oppies
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Last
1.2¢ |
Change
0.002(20.0%) |
Mkt cap ! $11.57M |
Open | High | Low | Value | Volume |
1.1¢ | 1.2¢ | 1.1¢ | $49.59K | 4.384M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1086216 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 351952 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1086216 | 0.011 |
4 | 1184530 | 0.010 |
4 | 1044580 | 0.009 |
8 | 3216966 | 0.008 |
10 | 8770131 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 351952 | 2 |
0.013 | 583333 | 2 |
0.014 | 2465428 | 4 |
0.015 | 895868 | 3 |
0.016 | 238000 | 1 |
Last trade - 15.56pm 12/09/2024 (20 minute delay) ? |
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LCL (ASX) Chart |