Agreed that MDI is very cheap. Using estimated production of 32.5Koz p.a. from earlier study and project capital costs of $10.5M from the AGM presentation, we have an EV to Production of $901/oz while the latest declared resources are valued by the market at $39.2/oz. In anyone's language those are low values for a nascent producer, and more resources to come. I topped up again this morning at 25c (equal to 1.1c pre-consolidation) after placing an early order on the chance that somebody would sell-off.
MDI Price at posting:
1.4¢ Sentiment: None Disclosure: Held
