MLM - NTA Update as 2/9/11
MLM @ $0.365 = MCap $48.3m
Cash @ $7.5m
Listed Investments:
MTE @ 82c = $65.6m (Coal)
CBX @ 19.5c = $5.2m (Bauxite)
PMQ @ 8.4c = $1.9m (Copper/Gold)
ORM @ 17c = $2.0m (REE's, & Gold)
Total LI = $74.7m
NTA = 62c
Discount to NTA = ~41%
No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project
* Nickel 400kt, Cobalt 42kt (90% measured & indicated)
Other 100% owned projects MLM owns that the market ascribes no value for:
1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC