CBX - Exploration program at Bauxite Hills
http://stocknessmonster.com/news-ite...E=ASX&N=232655
For those interested in Bauxite (another Negatve EV stock HRS, has a big chunk of bauxite company ABZ)
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CBX - Exploration program at Bauxite Hills
http://stocknessmonster.com/news-ite...E=ASX&N=232655
For those interested in Bauxite (another Negatve EV stock HRS, has a big chunk of bauxite company ABZ)
MLM - NTA Update as 17/6/11
MLM @ $0.345 = MCap $40.4m
Cash est @ $4m
Listed Investments:
MTE @ 59.5c = $47.6m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 10c = $4.6m (Copper/Gold)
ORM @ 20c = $2.3m (REE's, & Gold)
Total LI = $60.4m
NTA = 55c
Discount to NTA = ~37%
No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project
No material movement in the NTA figures this week!
MLM - Presentation @ Rare Earth Conference (re Scandium)
http://stocknessmonster.com/news-ite...E=ASX&N=232821
An excellent overview of the MLM flagship Nornico project, the Scandium alone is worth $4.5b, & theres 400kt Ni & 42kt Co to add to it!
Explains Scandium's qualities & what it used for etc
Up until this ann, most of the MLM focus was on its coal spin off MTE
MLM - NTA Update as 24/6/11
MLM @ $0.335 = MCap $39.2m
Cash est @ $4m
Listed Investments:
MTE @ 53.5c = $42.8m (Coal)
CBX @ 23.5c = $6.3m (Bauxite)
PMQ @ 10c = $4.6m (Copper/Gold)
ORM @ 18c = $2.1m (REE's, & Gold)
Total LI = $55.8m
NTA = 51c
Discount to NTA = ~35%
No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project
Must say im surprised the Nornico presentation hasn't created any more interest in MLM, they have stated the IGV of the Scandium alone (even ignoring the large Nickel & Cobalt resource)
MLM - NTA Update as 1/7/11
MLM @ $0.325 = MCap $38.0m
Cash est @ $4m
Listed Investments:
MTE @ 58c = $46.4m (Coal)
CBX @ 20c = $5.4m (Bauxite)
PMQ @ 9.2c = $4.2m (Copper/Gold)
ORM @ 18c = $2.1m (REE's, & Gold)
Total LI = $58.1m
NTA = 53c
Discount to NTA = ~39%
No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project
Grabbed a few today at 40c to compliment my MTE holding.
I'll update the MLM NTA tonight, given the MTE movement - so people can weigh up whch to buy tomorrow ;)
MLM - NTA Update as 7/7/11
MLM @ $0.41 = MCap $48.0m
Cash est @ $4m (ignoring the recently announced capital raising as shares not listed yet)
Listed Investments:
MTE @ 69c = $55.2m (Coal)
CBX @ 21.5c = $5.7m (Bauxite)
PMQ @ 9.9c = $4.5m (Copper/Gold) - no adjustment made yet for the MLM in specie distribution)
ORM @ 16.5c = $2.0m (REE's, & Gold)
Total LI = $67.4m
NTA = 61c
Discount to NTA = ~33%
No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project
MLM - NTA Update as 12/7/11
MLM @ $0.42 = MCap $49.1m
Cash @ $4.1m
Listed Investments:
MTE @ 79c = $63.2m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 9.7c = $4.4m (Copper/Gold)
ORM @ 20c = $2.4m (REE's, & Gold)
Total LI = $75.9m
NTA = 68c
Discount to NTA = ~38%
No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project
Reminds me of SEC's old chest nut SRL - the coal investment was nearly twice there market cap, the discount eventually narrowed, but only after Mgmt restructured the coal investment separate from the other non coal projects.
The way i see MLM can unlock value & narrow the discount to NTA, is to spin out the "Nornico" project via IPO, or secure a JV partner.
Clearly it seems the market does not understand Scandium, given the relatively few companies involved with it, i mean the Scandium is worth $4.5b IGV alone, & thats without factoring the 400,000t of Nickel + Cobalt credits!!!
MLM also have a limestone project & some other bits & pieces, & if you participated in the recent capital raising (i suspect u may have missed the cutoff HC) MLM is distributing PMQ shares as part of it, as they did with CBX to try & boost liquidity.
My thoughts are that they will either sell/distribute the CBX, PMQ, & ORM holdings, & will crystalise there investment in MTE, when they see what the current offer is worth, to focus on Nornico.
Whatever proceeds they might obtain would be used to develope Nornico, to a stage where they can attract a JV partner to bring it into production, or be able to list it as a separate entity.
These are only my thoughts, but until they do something like that the market will keep viewing them as just an LIC!