You'll probably also find that Euroz were selected to do the capital raising, and obviously putting out a great report will help that. We'll see what brokerage companies are involved when the announcement is made. Either way, it's good to have a strong relationship with a good brokerage, and from my experience, Euroz is ok.
As for market cap, the current $60m seems reasonable until they do the deal, and prove up some more resources with drilling, and until we get confirmation of the ounces to be produced in the next year, and the Lithium DFS.
Medium term though (not longer term), if everything happens according to plan within 2 years, we could see a market cap of around $200m achieved. Now assuming that the cap raise involves issuing another 200m shares @ 16c for $32m, then the shares outstanding will be about 530m (with a few options also converted). So that gives MLL a share price within 2 years of approximately 37 cents, which should be achievable.
Longer term of course, shareholders will be hoping for more/higher prices. And of course, the above estimate cannot take into considering other events that may take place with the Lithium or the Gold. So I'd be hoping for a 40c share price within 2 years, others may expect more, but we'll see.
Gw
Add to My Watchlist
What is My Watchlist?