MAK's holding in some of the other projects is being discounted heavily I think.
In the quarterly they talk of dealing on the Fraser Iron project. Grange Resources have the lease along strike at Southdown which has 500mt of magnetite. MAK says in the quarterly they have a mineralisation target of 250 to 500mt in their lease.
Grange has a Market Cap of $235 million compared to MAK at $85 million based primarily on Wonrah.
Sure Grange is a bit further down the track but even 25% of that adds another $60million to MAK's Market Cap. You would have to think the resource is there, MAK just need to prove it up and find a buyer. Grange is on the cusp of getting approvals through.
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MAK's holding in some of the other projects is being discounted...
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Mkt cap ! $29.74M |
Open | High | Low | Value | Volume |
1.1¢ | 1.1¢ | 1.1¢ | $3.3K | 300K |
Buyers (Bids)
No. | Vol. | Price($) |
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7 | 5834004 | 1.0¢ |
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Price($) | Vol. | No. |
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1.1¢ | 154900 | 2 |
View Market Depth
No. | Vol. | Price($) |
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7 | 5834004 | 0.010 |
4 | 4026000 | 0.009 |
4 | 904999 | 0.008 |
1 | 500000 | 0.007 |
5 | 10755000 | 0.006 |
Price($) | Vol. | No. |
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0.011 | 54900 | 1 |
0.012 | 1942510 | 5 |
0.013 | 1674703 | 6 |
0.014 | 2239999 | 3 |
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