This looks about right. They could probably stretch out the cash to Feb or March next year if they really had to, but as long as they are accumulating lots of rubies they won’t need to. If things go bad over the next month or two then we might see an attempt at a capital raise (I doubt it would be too successful), but as long as they are pulling out those red stones then they have nothing to worry about.
The SP is still pricing in almost no upside. Does the market really think MUS’s share of all the leases is worth less than A$8 million? If they were to liquidate the company tomorrow they would get far more than that - I am sure even gbar would snap up the leases if he could get them for this price.
MUS Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
