I don't often get excited at small caps but this one was too good to ignore. Last time I felt this potential was when I came across a company called Afterpay a few years back.
This company has too much going for it to ignore.
* Magnesium in short supply;
* 85% odd of world supply coming from one source which cannot be relied upon (China);
* management budgets appear to be conservative for prices for MAG at $3,000/tonne versus current $8,000/tonne (however as CEO David Patterson has stated, they don't expect MAG prices to remain this high);
* LMG's process cleans the environment by removing brown coal fire ash which can cause silicosis - this will get the eye of ESG investors which is all the rage at the moment;
* LMG have patented their process in countries around the world where brown coal fire ash exists. MASSIVE!!
And yet LMG has a market cap of around $150mill??
Financial reasons aside, I can't understand why one would sell at these prices.
There's this thing called the "Efficient market Hypothesis" ie the market value of a company is based on all available public information. At $150mill, something is wrong with the market.
Good luck all fellow LMG investors.
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Last
3.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $75.15M |
Open | High | Low | Value | Volume |
3.3¢ | 3.4¢ | 3.2¢ | $35.33K | 1.073M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 2357571 | 3.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.4¢ | 199478 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 2357571 | 0.032 |
11 | 1041638 | 0.031 |
12 | 979832 | 0.030 |
4 | 896551 | 0.029 |
1 | 7000 | 0.028 |
Price($) | Vol. | No. |
---|---|---|
0.034 | 199478 | 1 |
0.035 | 9836 | 1 |
0.036 | 319508 | 5 |
0.037 | 6000 | 1 |
0.038 | 149036 | 2 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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