Yep I agree! Mcp represents a marginal project with all the payback is in the last two years of the mine life and a wild strip ratio (7:1?). The guys that did the study wanted to dress it up to sell the company but couldn't get any takers hence it kind of lingered in the background for so long. At any rate if the S10 was approved the stock would still be in a trading halt right now but for a project financing cap raising. Assume a $400M cap raise ($400M/$1,250M = -32% dilution) so any open above $1.15 gives a better outcome. Counterintuitively, stock might actually open up next week without the threat of a large cap raise. Depends on how Jim spins it and plans going forward but not the worst news into year end. Short interest never really rose indicating it came out of left field.
Just some thoughts have a good weekend. Cheers
Yep I agree! Mcp represents a marginal project with all the...
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Last
$2.70 |
Change
-0.010(0.37%) |
Mkt cap ! $2.039B | |||
| Open | High | Low | Value | Volume |
| $2.64 | $2.73 | $2.62 | $9.888M | 3.666M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 6532 | $2.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.70 | 41444 | 5 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| RRL (ASX) Chart |