I'm not currently holding but my opinion on the spin off remains the same as after the bad news on the FS.
It no longer makes sense to be spinning Barkly out.
East Tennant Creek is shaping up to be a hot zone for exploration over the next few years and MDI is well positioned with it's ground. Consequently Barkly is now the project that can bring fresh capital into the company. It would be bonkers to send it out and try to keep the rest of the company running on the back of Sandstone.
NCM is currently drilling in the area, SER will be drilling in about July and ICG hopes to commence drilling by the end of the year. They are all neighbours to MDI, all with excellent positions so could add substantially to the market value of Barkly before MDI is even ready to put a drill down. This group of 4 listed companies have, imo, the best ground in the region between them.
I'm not currently holding but my opinion on the spin off remains...
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Last
1.3¢ |
Change
-0.002(13.3%) |
Mkt cap ! $2.832M | |||
| Open | High | Low | Value | Volume |
| 1.4¢ | 1.4¢ | 1.3¢ | $2.619K | 200.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 349000 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.5¢ | 136723 | 2 |
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| Last trade - 13.09pm 28/06/2024 (20 minute delay) ? |
| MDI (ASX) Chart |