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28/04/16

06:58

Post #: 17615476
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Originally posted by Amused observer ↑

I do....and here is why
1. Yup, the cash is higher than I expected.
2. The claw back from the Philippines is horrendous if anything happens there (will need serious capital so either debt or dilution), so that is essentially a dead duck.
3. The current cash burn rate give you a runway of about 8 months then what? another capital raise?
4. Current shares on issue is ~135m and $1.66m in the piggy bank = $0.012 cents per share.

Any project or backdoor entry in sight before the ~132m options are payable or lapse, that's only 3 months away and even then conversion only gives you another $3.168m if all done and any new listing candidate will be rather pissed to see these on the horizon on top of having to pay over 100% premium on asset backing for an ASX listing "shell" given the market price gives a market cap of $2.832m.

So yes, I do think it is an expensive shell plus it is one that carries greater risk than other asx listed shells.

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mate there is no saving you
do you even know how to read a quarterly
their estimated cash outflows is 200k per quarter which is 8ook per year, which means they have enough cash for 24 months
imo they will get this thing going and get the options in the money but even if the options lapse who cares
they have heaps of cash to see them through and find a complimentary project for the benefit of shareholders

MNE Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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