I was curious to compare MMC with Metminco MNC. Lots of day traders over at MNC.
MMC has 5184 Mlbs or 2.35Mt contained Cu (grade approx 0.4%)
MNC has 1362 Mt at 0.57% = 7.76Mt contained Cu
MMC capex is $1.7 to 1.85bn
MNC capex is $1.5bn
The market cap of both companies is approx $30m today.
But note MNC has $14m cash, what's the cash for MMC?
What's the rule of thumb for insitu valuation of Cu resources as %? I thought it was 2% for explorers.
MMC is 0.6%
MNC is 0.2%
Is having NFC as partner and the government interest worth that little?
I was curious to compare MMC with Metminco MNC. Lots of day...
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