I am still wondering why shareprice is still around 0,10 A$. I...

I am still wondering why shareprice is still around 0,10 A$. I joined the IPO on 0,50A$ a couple years ago...What has changed?

To recap the present status of MFC:

-Cashposition +/- 6 Million A$, no debt, 73 million shares,16 million options.

-Palabora project in Africa is up and running (with difficulties but improving) giving a modest positive cashflow.

-Definitive Feasibility Study (DFS) on the Chambisi Tailings (waste material from previous mining activities still containing several percentages of for instance Zn, Cu or Ni) resulting in a net surplus of 50 million US$ next coming years. Based on 2 million tonnes waste containing 1,3% Copper.

-Lucky Break DFS should be finished by now giving a 5 year project with a base case revenue of 12 million US$ (based on 7 US/lb) Costprice is max 4 US$/lb. So 800 tonnes a year = 1,8 million lbs/year giving 5,5 million US$ minimum for the project. It means 2,75 Million US$ for MFC net income. Nickelprice at the moment is around 12 US$/lb !!!! (which would give an additional couple of million $ a year).

-Super-investment in Base Metals (BSM) Just have a look at their presentation of 19 april 2010, and especially at page 11 !
MFC holds at the moment 26,4 Million shares acquired at an average price of 0,12 A$. Today's sp is 0,22 A$. Valuation by broker is 0,48 A$ ! According presentation BSM expects a huge increase in cashflow,earnings and company-valuation. Exposure to MFC is about 25% of BSM. BSM has a lot of cash, completely funded projects and an operating profit and a huge upside resources potential.

-Last but not least the Barnes Hill project (with PRW)of which the DFS is expected to be finished somewhere in 2010.
Based on an 8000 tonnes per annum (17 million lbs/year) this would generate 120 Million US$ a year for PRW/MFC. Any surplus after repayment of all study and development costs to MFC will be split on a 50/50 bases between PRW and MFC. That means roughly 30 Million A$ a year for MFC during 12 years. Not even talking of a production of 16000 tpa and/or a nickelprice of 12 US$ !!!

- Several other projects coming up...

This post is not to be meant to ramp the sp, but more a reflection of my question why the sp is not moving because of all the facts presented above (which could give an earnings per share somewhere between 0,05 and 0,20 a year)

The marketcap at the moment is around 8 million A$. Look at the cashflows coming years ! Do I miss something ???
Can someone help me out ?


klmarc

Please do your own research !!!!!