The markets reaction is very disappointing it seems that the Ann was already priced in.
But the fact remains that MOL is sitting on a resource of $24-26bil at today's prices. As a long term holder I am very happy to sit it out now that Hanlong are in.
Putting a valuation on MOL is a bit complex, but a ball park figure based on this equation-:
Total Value of the resource say $25bil
Divide by 10 = 2.5bil
Divide by No Shares say 400mil = $6-25
Should the price of Molybdenum return to the $30 mark then you can almost double that figure.
The finance approval will be the clincher and my money is on it coming sooner than the 30th Sept, we will see if I am right.
MOL Price at posting:
88.0¢ Sentiment: LT Buy Disclosure: Held
