Hi Meehohnsy, I haven't got any MXRO but I have MXROA and expect they will be worth considerably more as results start flowing through. The MXRO are an interesting one as they are just about "in the money" so could reasonably be expected to be worth exercising unlike many other company options that are way out of the money. If I had MXRO I would definitely exercise them as I have great confidence in my research on MXR but that's not to say the market will as the market moves share prices very differently to what value I identify in a particular stock based on the "if" factor I calculate prior to buying into a company's stock. I think the heads are about 30c undervalued but there will be many contrary opinions to that no doubt. There are 5 different series of options I think are good value within the 4 companies I hold shares in at the moment.
The MXR highs over the last 12 months of around 40c are what I think the the base value is and the canegrass prospect announcement of target quantities could well see another 30c or so added on when the penny drops and the market realises what MXR might have. As the drilling commences and the results are expected the price should reflect closer to my valuation and when the resource becomes proven, it's anyone's guess as to what MXR will be trading at. They will be expected,at some stage, to be looking to do a jv or placement or cap raising to fund the capex for the cangrass mine ops' and the increase in value of the company could be expected to balance the dilution when the extra shares from the jv/ placement/cap raisings happen. etc. As I said in an earlier post, I think they will have other companies queuing up to buy into the company which should fund the capex (plus some) depending on the % of the jv or acquisition.
MXR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
