MLM Update (as at 28/9):
Share price $0.29 (Market Cap ~$36.2m)
NTA = $0.42 (Est Cash $4.7m, + Listed Investments ~$47.9m)
Discount to NTA = 31%
Printable View
MLM's 56% owned MTE
MTE - China Coal JV Underway (CCIEC to invest $30m into MTE)
http://www.stocknessmonster.com/news...E=ASX&N=224615
MLM provides an undervalued indirect interest into MTE, which is MLM's largest asset in value
MTE have around 141m shares on issue the 80m that MLM own are held in escrow. (I see Trading Room incorrectly shows 61m shares)
MLM's 80m shares are worth $27.2m, so MTE's market cap is ~$48m, but the $30m injected makes it interesting
I've tried to simplify & spell out the discount to NTA! (i update a spreadsheet when i remember)
I gave up with DGR, if you go thru that thread & the presentation, as they have holdings on other exchanges the listed investments are worth more than 3 times the market cap!
Yep, thanks for doing that Shasta, I for one appreciate it and have been following the thread quite closely.
I see ORM has gone from 5c to just under 30c in a month, on the back of the REE boom.
MLM - Annual Report to Shareholders
http://www.stocknessmonster.com/news...E=ASX&N=224821
A good read, not just for background on there listed investments, but about Nornico in particular, there flagship project 4 Nickel, Cobalt & Scandium
MTE - (56% owned by MLM) Presentation to the Coal Exploration Conference
http://www.stocknessmonster.com/news...E=ASX&N=224829
MTE has alot of acreage in the Surat Basin, the home of many CSG companies
Page 7 highlights some linkage to Arrow Energy, Pages 18 & 19 relate to MTE's interest in UCG