MLS 0.00% 0.2¢ metals australia ltd

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  1. 1,674 Posts.
    Hi Guys,

    Spoke with MLS this evening.

    No doubt that they still feel that MLS is undervalued at current prices. We did discuss often how MLS like co's are valued. Normally it would be 10-15% of in-ground value, plus things such as cash etc. If you work that out for MLS then you have a MCAP of around $50m, against a current MCAP of $20m. That in itself shows just how cheap we still are!

    At the moment the lab are going over some data from the June drill and details of this may or may not get to the market, depending on if anything becomes market sensitive.

    I got a good feeling that more news is coming and that the momentum will be maintained.

    The order for the diamond drill rig is placed and we are still hoping for delivery before Xmas but these things are in short supply so no guarantees, it could be January.

    Once again we talked about the ore body and I still have no doubt that 2-4mt is the reality here, just wait until they start testing deeper!

    I aksed if they were worried about a hostile takeover. I think they are aware that at the current Mcap they could be a target and I wouldn't rule this out. WA is rich in mining co's who will like the look of this ore body! I did ask politely that should this happen that they make sure they get a good price!

    The other 2 projects are fairly quiet, personally my interest here is Manindi, anything else is just a bonus.

    summary - all very upbeat, suprised it has taken this long for interest to return, still think we 100% undervalued!

    Would still add more if I didn't already have so many.

    Just my views and opinions, please dyor and all that.


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