MHM currently valued at less than $15 million, given the possible upside that seems surprisingly low, the volume is tiny but at these levels surely Befesa would be interested if our process and US contracts are of any value.
The board indicate that cash burn has been arrested and that we are marginally profitable with current Alcoa arrangements, so the risk of insolvency doesn't seem to be a credible reason for the current valuation.
I don't buy that tax loss selling is the reason either, the slow trickle of selling looks more like noise or toying with numbers than a rush to the exit. Equally the frustrated bulls, and burnt option converters cannot get out either.
It's an ongoing worry that management hasn't seen fit to put any of their own cash into the business even at these levels, or are we all just waiting for volume to arrive, either to get in or out?
do we have anything of value?
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Last
29.0¢ |
Change
0.005(1.75%) |
Mkt cap ! $118.5M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.0¢ | 28.5¢ | $28.10K | 97.81K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1741 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 12000 | 2 |
View Market Depth
| Last trade - 15.59pm 28/06/2024 (20 minute delay) ? |
| VYS (ASX) Chart |