As at 31 December 2014 the Company held a total of c$3.4 million in cash and cash equivalents.
As per the Group’s half yearly report, as at 31 December 2014 MHM held Net Tangible Assets of $5.4 million, including a provision for the Moolap plant clean up, equivalent to an NTA of c4c per share.
Taking into account the liquid assets currently available and expected future cash receipts, the directors believe that the Company is in a position to fund the clean up of the 80 Buckley Grove property.
Importantly, aggregating the current liquid assets with expected proceeds from future R&D tax rebates, sales of freehold property and Plant & Equipment and the potential recovery of litigation judgments, the directors are of the view that the Company will be in a position to invest in a new business opportunity, capable of becoming its principal long term undertaking.
MHM Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)