I just got a text from a SH reminding me that I had forgotten about the $4M that Advent owes MMR. True. If one was to add the $3M in cash held, and the $4M money owed to MMR, it's cash backing is $7M and the post CR MC is currently, yep, $7M. Congratulations to those that took up their entitlements, you just got 30% of PEP11 for free.
Oldtimers will know that the loan was caught up in the argy bargy, it is repayable in scrip either (a) just before the drill, or, (b) upon the listing of Advent on the ASX.
Expect it will be worth a fair bit more than $4M once NOPTA approval comes through.
JMO. Not advice. GLTAH
MMR Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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