The stocks, to right. I just had a look at EMA who have 46,000 t deposit at Mulga rocks and they are up 5c or about 14% in pre open bids this morning. Compared to MXR which has a smaller 3,400t deposit and the recent RIO sale values inground U at about $13,888 per tonne. EMA's closing price puts their market cap at $13m , their sp since their float a few months ago has dropped from around 75c to 50c to 35c as at friday but are looking at opening today at 40c. Their inground value of U is $638m and MXR's is about $47m or 30c a share on a straight sale basis going on the $495m RIO got for their 36,000 tonne resource they sold to Cameco/ Mitsubishi. Of course MAE only has U whereas MXR is looking at up to 4 billion tonnes of iron-ore and a lot of gold. EMA only has about 39m shares on issue and only 57,000 of them are currently for sale they don't have much liquidity whereas MXR has about 930,000 shares listed for sale and about 153 m shares on issue. Buyers have increased with 1.47m on the buy side at the moment. Could be a good day for both today. A lot of the other U stocks don't seem to have moved in the pre open but early days.....watching with interest.
MXR Price at posting:
10.4¢ Sentiment: ST Buy Disclosure: Held
