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70.0¢ mallee resources limited

"likely nothing " , then produce an optimistic 17c return to sh...

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nottawombat

5,788 Posts.

503

03/10/23

11:44

Post #: 70145036
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Originally posted by Roubi: ↑

Joca,
I tend to agree with you, we'll likely get nothing.

But I am not sure whether the 5c valuation represents the value of the mine or the desperation & incompetence of management.

From memory, Averbery was bought for ~$100M and according to jl, this was a "compelling acquisition" or some words like that, implying that he got a good deal after supposedly hundreds of projects assessed through tough due diligence processes.

They also have put over a year of works into it, with all of management impressed with progress announcements after announcements.

So now worth...? $120M? $150M? More? Given the above that would be a bare minimum for the sale of the mine right?

Assuming $120M sale, and owing ~$50M to Hartree, that's $70M left for other SH. Not sure how much of the Hartree loan was through shares? Assuming they have 100M shares, we are left with $70M / 400M shares = 17c per share for regular holders?

Very rough numbers, very optimistic outcome, but there might be some left for us?

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"likely nothing " , then produce an optimistic 17c return to sh ?

Have transferred mine off market for the grand sum of $1.

Some would argue that I got more than they are realistically worth.

MYL Price at posting: 70.0¢ Sentiment: Sell Disclosure: Held
4 Upvote

0 Great analysis

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