I think you will find that Minotaur are fully covered for 12 mths , including all of their 25% commitments for costs for the ADN : MEP JV for the Poochera (GW) Halloysite - kaolin developments . They’re covered for drilling - Charters Towers. They covered the buying expenses . They’ve covered all company costs — Totally for the next 12 mths.
** In addition — as pointed out here today and I have been saying for a long while : unlisted options would come into the money , such that Minotaur would be extremely well covered for funds , for sometime . This is now the case - for a further > $3 million, now in the money and due 2021 & 2022 .
I am certain that they would have money offered to them , if they decided for whatever reason to acquire more land or assist more towards Andromeda ... The risk is more towards a takeover of the 25% interest in the very long -life high grade , world leading Halloysite - kaolin resources . This buying must represent in part position taking for the % of the resources and opportunity for some stake and control in this . Although MEP cannot be taken over with board and management and loyal shareholders would hope aboard enough .
However — Hence the call to arms with the shareprice, to get it UP— uncharacteristically even, spelled out by the MEP management last week at AGM presentation. Minotaur have put a lot of work into gathering and researching the Halloysite and held the tenements for a long time .
I do not think anyone holding MEP shares now will be not aware of the extreme undervaluation here with Minotaur - with respect for only the share of Poochera and Camel Lake lands , and the JV.
The last months , for sure, unfortunately many Minotaur shareholders must have sold out or down . I think this is a travesty.
The whole point of MEP as an exploration company is to realise the value of the tenements held for so long, & where so much shareholder investment has been placed for 15 years . Auroch is a case in point. Minotaur spun out Auroch . Also for your interest - MEP finally sold down the last of the company’s holding in AUR in September- also to bring in the funds . Over $9 million in the bank. ( unfortunately- AUR shares have now since tripled in value . During the last 2 mths - performing better in fact than MEP shares until today . )
Minotaur - very much see , they have ample money in the Bank. Way undervalued, and job is to rally shareholders to HOLD . Therein lies strength for all . It is inevitable anyway as whichever way - holding the ADN resources share , and going to mine and dividends to shareholders within 2+ years ( then we would be over $1 per share ) Or - any idea of a deal where MEP say was given ADN shares for the Minotaur share in resources - and this way share in the upside as the resource develops ~ ** MEP shareprice still ends up way higher than right now . Indeed over double now . MEP shareprice used to be higher than ADNs until in September. Just a confluence of events with the MEP capital raising , held the MEP shareprice down at a very cheap level , and a lot of shares entered the market and allowed manipulation of the shareprice also imo .
MEP Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held