The CR is triple win for all --
1) MLS gets $5m and another $9.6m (by 1 Jun 2022). It will have ample cash to drive the Manindi Lithium, Manindi Zinc and Quebec Graphite projects to the next few milestones.
2) New shareholders who got to participate in the game at 7.8c in head and 5c in option. Enlarged SHs base with exciting news flow is always great for the company.
3) Existing shareholders may get a chance to buy more if the price dips on Mon due to lower issued price at 7.8c though I doubt very much that it will dip. If it runs, you sit tight to enjoy the ride up.
From the term sheet, we can see that there will be at least 2 more ann in Mar, one of which could fall on Mon:
1) The assay results from the Eade, Pontois, and Felicie Gold-Copper-Zinc projects in Quebec
2) The MAG/TDEM results from the Lac Du Copper-Cobalt project in Quebec
I've been thinking how we shall value MLS...If we use sum of all parts, I guess it could be around $100m at the moment from:
1. Manindi Lithium @ drilling stage with high quality grade - perhaps $30m to $50m?
2. Manindi Zinc with JORC
[email protected]%Zn - another $30m - $50m?
3. Lac Rainy Graphite in Quebec with JORC
[email protected]% and NPV @$123m - another $30m (comparable to but better grade than BEM (9.5%) which is trading at mc@$30m)
4. Rests say $10m - $20m
So shouldn't we be trading in the range of mc@ $100m to $150m?
