Their cash postition isn't something that excites investors. They will need to raise capital in the very near term, which i think makes increases the chance of a takeover. Mainly due to the company looking externally for partners/joint ventures and investments before seeking other means of raising needed cash. I did a quick simular comparison of ESG and their reserves which give a price of $1.31 which is only 220% or something above the current trading price (off the top of my head). MEL's reserves are priced rediculously low compared to ESG, i think the overall market is expecting ESG to announce an increase in reserves that is multiples above what the have aimed for. Still, i think MEL is severly undervalued.
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$8.60 price target by the company, page-9
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.066M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 12600226 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 14907884 | 13 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 12600226 | 0.003 |
13 | 31775499 | 0.002 |
6 | 59703690 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 14907884 | 13 |
0.005 | 3746391 | 4 |
0.007 | 100002 | 1 |
0.009 | 80000 | 1 |
0.010 | 1000000 | 1 |
Last trade - 16.12pm 29/08/2024 (20 minute delay) ? |
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