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9.89%

8.2¢ medallion metals limited.

Ann: Sub-Lease of Ravensthorpe Camp for $2.2 million, page-5

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binwood

9,074 Posts.

3991

29/09/23

14:45

Post #: 70099274
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Originally posted by timbin4 ↑

Turn an existing dormant asset into real working capital (cash). This reduces the near term need to dilute shareholders (via a cap raise) to fund more drilling..... that's a tick from me.
The fact the market hasn't even put in a bid in light of this $2.2m cash generating positive announcement demonstrates the sentiment towards the PM exploration sector at present.... it's not even in the toilet anymore.... sentiment has officially been double flushed and heading to the sewerage treatment plant.

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Two points in my view:

1. The $2.2m is smart - it's 10% of our MC. That's decent cash gen from non-dilutive sources.
2. The 18 month time line suggests these guys are serious about hitting FID Q1 25. Then we will want the camp back to get this thing going for real

MM8 Price at posting: 7.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 8.2¢		Change -0.009(9.89%)		Mkt cap ! $34.27M

Open	High	Low	Value	Volume
8.6¢	8.6¢	8.2¢	$34.75K	412.8K

Buyers (Bids)

No.	Vol.	Price($)
1	10000	8.1¢

Sellers (Offers)

Price($)	Vol.	No.
8.4¢	21617	1

View Market Depth

No.	Vol.	Price($)
1	10000	0.081
1	77287	0.080
1	100000	0.078
1	200000	0.076
1	4200	0.071

Price($)	Vol.	No.
0.084	21617	1
0.089	64061	1
0.090	18322	1
0.093	6000	1
0.095	51546	1

Last trade - 12.13pm 01/11/2024 (20 minute delay)

MM8 (ASX) Chart