@lammergeyer, what are not factoring in with your statement that there will be an overhang of 40m shares with RNI and PAN and therefore buyer resistance/seller pressure is the added value that these 2 acquisitions give to MLX. I can't really comment on PAN, but I can on RNI. The issue of 18m shares for the Grosvenor Gold asset is very cheap. It's worth more than the $19m or so that was the equivalent price at the date of the Ann, so not only is MLX getting an asset that increases its asset portfolio value - thereby countering the extra shares on issue - but a cheap one at that.
The MLX Diggers and Dealers Preso should be read. It's clear from that Pres that not only is RNI's gold asset already part of the family (yes, acting as if already acquired) and will be an important one too, but that it was cheap too. Viz:
"Grosvenor Gold Project - Murchison - 18 million shares ( $20M+) - typical shrewd MLX type deal. A 2m oz resource with all the plant and infrastructure in place at a bargain price ($10/oz). Targeting 70,000ozpa at circa $1100/oz total cost. - production ready - another low-risk, low-cost start-up – internally funded & good margins. "
At $1.00 MLX was a glaring buy imo. Unless the A$pog were to collapse, then I would expect the SP to continue to rise, or at least consolidate at around $1.30. Interesting that the said extract has the value at $20m+.
@Xlch74, thanks for posting here, and good luck with THX too. $1.50? Hmm, that would be tasty. Did you see that THX got a mention (TU) in the Bell Potter Report on Talisman? - the one that Samsung1 recently posted. Worth a read!
In the meantime, it looks as if RNI is going ahead with air core drilling at Doolgunna, even with highly restricted cash. My guess is the central corridor. The one that hosts Monty. Work was done in this area 3 years ago, and more again this year by the look of it. The 29 June ann has details and it also explains the 3 corridors. When RNI initially started working Doolgunna back in 2011 or so, the central corridor had not been identified, and it wasn't RNI that uncovered it. No, it was Talisman, and the geo man in charge there at the time was Peter Langworthy. PL thought he was onto something there obviously, but his team missed the SFR Monty sulphides by only about 90ms . He would have got both joy and regret from the SFR news - so close!!
Of course PL left TLM some time after and through his company Omnigeox started consulting. In that capacity he came to RNI in mid 2012 and has been there ever since, and for about the last year (guessing here) as the chief geologist. Now I could not select a better person to be in charge of the Doolgunna exploration. He not only knows his stuff, but he knows this area.
One more thing re Taurus; there is a possibility of course that T, or an associate in the New Holland Capital stable, could acquire the MLX shares and do a deal to settle the debt at the same time. That being so, price predictions for MLX may be irrelevant.
(20min delay)