The biz will need to reach $100m of annual earnings to justify a $2 share price (c. 15x earnings). The earnings run-rate is $50m, so it would need to double earnings from the current run-rate. I tend to believe it is more likely than unlikely over a 5-year time frame, otherwise I wouldn't own the business.
I hope Management have learned from their mistakes and won't dilute us along the way to buy inferior businesses. They have nearly 5x the share count in the last 24 months.
MME Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
