Looking page 81 of BOW's Grant Samuel report on valuation by Arrow's takeover.
MEL is undervalued compared with companies with no gas like ICN & COI in terms of 3P reserves + 2C resources.
MEL $0.03 (equates to sp of 58.1c)
ICN $0.05
COI $0.09
Using ICN's valuation, MEL's real valuation is 96.8c
Using COI's valuation, MEL's real valuation is $1.743
So either ICN and COI are heavily overvalued OR MEL is substantially undervalued.
Bear in mind, MEL has gas. ICN & COI have no gas.
Looking page 81 of BOW's Grant Samuel report on valuation by...
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0.4¢ |
Change
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Mkt cap ! $5.830M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $34 | 8.617K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 21794996 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 16110188 | 12 |
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| Last trade - 12.48pm 01/10/2024 (20 minute delay) ? |
| MEL (ASX) Chart |