I would have thought the market would have recognised MLM by now ...mining in the next 2months...what will it recognise?bulk carriers going backward and forward,or a build up of cash?It is only a small operation compared with MMI but I knew they would dilute the shareholders in a big way...I could never invest in a company with so many shares...I prefer our model of a step by step approach getting some money in the bank as we eye off further opportunities and that is why it is difficult to put a target price on MLM...what are our new opportunities?When the market sees it is very profitable and we have repaid our capital that we did not have to borrow in a short period of time there will be market interest shown...for sure!MMI has also a debt facility of $40 million included in its mine start up...we are debt free.
So MMI target price is 2.5 times their current SP...Ours imho would be a lot higher given we have only a quarter of the number of shares....but lets wait and see.
MLM Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
