Still have 10 days to trade MSRO. Out of the 60m, only 2.8m on sale. Looks like most will be converted. I wonder if they will be underwritten by Macquarie.
There would be $12m option money coming in.
By end of Sept, there should be $6.2m cash (based on last quarterly) plus $12m oppies money, a total of $18m. The outstanding shares will be 237m.
After Sept, using Current MC of $40m (22.5c) + $12m = $60m
60m (fully diluted) / 237m
= 25.3c SP (against 22.5c today's SP)
With upgrade resource this month, mining licensing to come, upgrade of IRR using a higher POG (previously $1000/oz was used) The SP MSR should have plenty of mileage on it.
DYOR
sp direction of msr after msro exp
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