Interesting... Melior has a fully diluted 34.5M shares (29M undiluted) on offer, MLM have 302.2M shares (undiluted)... So based on a 1 MLR to 20 MLM shares this would value MLM at ~12.6M a 27% premium to the current SP...
That said Melior are carrying USD$7.7M of debt and only USD$1.7M cash, compared to MLM that have A$6.6M in cash and no debt....
Will be interesting when the MLM reports come out, definitely provides synergies and potential second revenue stream.... However with 1:20 we will have an extra 580M shares on the book taking total MLM shares on offer to 882M which is a massive massive dilution...
I also don't see any exploration upside in MLR, however MLM do have HMS and silica - so overall without seeing the report from MLM yet I am disappointed on face value...
MLM Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
