Although I agree with some of the chat on this forum the fact is that the market has not attributed any value to Sconi in current MLM valuations.
In reality MLM now looks even cheaper as the enterprise value of bauxite alone is very low.
Based on a current market cap of 21m less cash of 4m less Sconi sale (present and future) 10 m equals 7m only. And we all know that Bauxite 50%NPV is 40m.
So we may not all like the Sconi deal but MLM still very cheap and I think that Simon and the management will be looking to invest that excess cash very quickly in new ventures.
My thoughts only.
MLM Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
