Yes I noticed the low number of shareholders. I compared to a recent gold listing FEG and they had 641 separate shareholders and they listed at a 30% premium on admission to the ASX and today touched 43.5c which is over 100% premium to the IPO price just 4 weeks after listing.
Just doing the numbers on MMA assuming 20c list price and 50M 30c options that may trade at 5c gives MMA a market cap of $32.5M. After listing costs and repayment of debt they will have $13M cash so EV of $19.5M with a silver equivalent resource of over 100M oz.
IVR which I hold, has 60% of the silver equivalent resource that MMA has and has an EV of around $73M or almost 4x more expensive than MMA, assuming a 20c list price.
Exciting times if you believe the silver story. And half the issued capital in escrow for 2 years.
Ann: Maronan Metals $15m IPO Update, page-23
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Mkt cap ! $40.45M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 13.5¢ | 13.5¢ | $16.69K | 123.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 168038 | 13.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 50000 | 1 |
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