MLM: 128,777,710 Shares (post rights issue) x .425 = Market Cap $54.7m
Their MTE holding alone is: 80,000,000 shares x .81 = $64.8m
MLM is trading at a 15% discount to the value of their MTE holding, let alone their approx $10m in cash and another $10m odd worth of other holdings and 100% ownership of Nornico Project...
I understand the reason for the drop, but MLM is still hugely undervalued at this point.
m/cap $55m, value of mte holding alone $65m
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