I am always wary of high valuations of spec stocks.They say that BYE is covered by analysts fromBell Potter,CGS-CIMB/CIMB Research,Morgans Financial Limited and one of those analystssubmitted the estimates of revenues or earnings used as inputs in their research.The valuation would have been done before Otto's announcement last week which I understood to mean that some "reserves "were being reclassified from probable to possible and BYE responded.I don't knowif BYE is worth 52c but I agree with the snowflake comment "Exceptional growth potential with a mediocre balance sheet" so I hope MEL is still holding around 40 million BYE.
MEL Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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