share price and cash, page-12

Phil, this market valued BMN as a peer to EXT,

Market Valued BMN at the same, nay, higher MC to EXT.

What's changed since then?

Well the market still values ext at 200 plus mill, and now BMN at 45 mill?

But, does it really value it? Or is it just the price that the sheep have run off the cliff at?

Even a return to 80c, is almost a 3x from here.

To go back to EXT peer is 5x.

And we all know that BMN have the jorc, plus a pretty sweet tenament next to PDN, which PDN have drilled up to the boundary with as i'm told, great results.

So, what is the tenament next to PDN worth???

And yes, savanna.

But that is a matter of patience.

Value, well, I notice that you mention maks return of 20% from yesterday.

So, what we're talking about is recoil action, yeah?
Thats the current MC, to where apon resolve of certain sentimnet based issues, would put a MC back from whence it came.

What if there was a serios native title issue with MAK, and all of a sudden MAK found itself in the courts to sort out whether or not one of its two assets, NT ROCK PHOSPAHTE (i/o -monia the other say) was in jepardy, but the court case was by most opinion to favour MAK, but that the sentiment, had driven maks MC down to say 20 mill???

And let us say for the analogy, that maks neighbour, had found another 100mt of RP, and was now rated where mak was, MAKs true peer, at 200 million.

Would you not say to me, that in this situation, the absolute slaughtering of MAK down to 20 mill mc, from its former glory, based apon its imediate peers of same geology and order higher MC, presents MAK as an outstanding opportunity to recoil back to its peers??

Its the same argument for BMN.

Why is BMN worth less now, than it was 4 months ago???

IMO, it is not worth less. It has simply been sold down by the insto exits, and the crash.

Dont mistake SP with true value. Identifying the difference is to identify oversold opportunistic conditions.

cheers