Ann: MHM Board Changes & Company Update , page-44

Hmmm, secondchoice, you agree with me then contradict me. Firsova is talking nonsense, $10 million is micro cap or even nano cap.

Ask yourselves, if you wanted to list on the ASX what would the costs be?
If you were a small but profitable business, how advantageous would it be to merge with MHM, shut down Alreco and anything that has gone before it, and offset a few years of revenue against all the losses MHM have made?

$10 million is fair value just for the listing and inheriting the tax losses.

Look at the volume - its pitiful and makes the SP meaningless, no-one left to sell, no-one interested in buying. Meaningful movement from here is entirely predicated on the next few quarterlies - if profitable then buying at current levels would make you some money, but try getting in around here with any volume...

When MHM was valued at $1 it was miles from achieving what it said it had already achieved. Back then aluminium prices were way, way above where they are now, and the true costs of the process were hugely underestimated, let alone the costs to get it functioning (which we're still not sure is happening!). Currently the we're told the process is hugely expensive, marginally profitable and seemingly very brittle without confirmed large volume avenues to sell the products. Until guidance is issued that indicates that the moolap setup will function stably without further capital injection, and that the receipts for products robustly and routinely exceed costs we're stuck in limbo. BUT if it does slowly turn around and international expansion comes back on the cards, multiples could still be made. Just way, way too high risk for me to re-enter yet...