franky
and in your universe MNM is the only spec stock trading near 2011 lows? Yes?
it looks to me like the same 10-15 million or so MNM shares have been churned by traders looking to make a cent on the way through for at least the last month or so. the directors sitting on multi million unit holdings (22 million in Blakemans case) have sold none. ever. Not even at 29c. makes you think they are either dills, or, maybe, know more than Frank does about MNM's future prospects.
half of the punters on the offer below 15c (and there is not many of them) probably have no clue what sector mnm is actually even looking to revolutionise - it's just another trade.
Mt Mulligan alone probably holds 500 million tonnes of black coal. The most conservative EV for this resource that most brokers would apply in ground would be approx 30c/t. Or $150 million. All that stands between MNM and this kind of EV for this project alone is Calcifer - and they look set to fold in the Court battle within 3 months on current form. If they hang in to trial I'm betting they will get the kind of court criticism they have copped before in the Qld legal system (in the same kind of opportunistic case).
At 11c MNM has market cap of $21 million. Add another 13 billion tonnes of brown coal in Vic, the Texas black coal project and the exergen JV factor about BM development and form your own view whether this is a fair MC or not.
DYOR
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