the issue is is not resource quantity but quality. Mei has that added uncertainty of being with environmental buffer zones unlike Vmm. Ultimately it’s what return a Mei holder can get in value if they invest now at 8 percent discount - 16 mill for a stock worth 200 mil. The immense valuation was for the large resource defined by Mei but now the market understands that is no longer relevant and focus is on the ultra grade component.
I anticipate Mei to come to 150 at least but I’m surprised at the fall of Vmm to under 50 mil as the resource upgrade at cupim south with increase the ultra high grade component. 50-60 c I will be adding.
Ann: Colossus Cupim South Step-Out Drilling Yields Best Results, page-45
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Last
66.0¢ |
Change
0.005(0.76%) |
Mkt cap ! $43.50M | |||
| Open | High | Low | Value | Volume |
| 64.5¢ | 68.0¢ | 64.5¢ | $39.52K | 60.21K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6595 | 66.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 67.0¢ | 5000 | 1 |
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| Last trade - 15.39pm 12/09/2024 (20 minute delay) ? |
| VMM (ASX) Chart |