Looking at entering this share. Just have a couple of quick points if anyone can assist:
For Razorback a target of 500mt at least - what would be a fair market cap if achieved?
Does anyone think the share price might also reflect the rights issue in Oct 09 for 10 cents and this might be an opportunity for some sellers to sell especially with the capital gains benefits? Maybe the Singaporean company that pulled out might have been the excuse to take these profits therefore providing a current buying opportunity?
Seem to be focusing on Razorback but have multiple projects - could a strategy be to potentially sell some of these to help fund development of Razorback to production or would they be looking for some sort of partner like the previous arrangement they had? Noted the sale of shares last month for $6m.
Sorry if these points have been raised before.
My reading is cash position - $7.5m - last quarterly + $6m sale of shares with cashburn of about $2.5m per quarter so enough for a while, solid management and as an added bonus little HC chatter (not a bad thing sometimes). Also was recommended to me by someone who understands a lot more than I do in these types of companies.
Like the checklist at the end of the presentation gives me something to keep an eye out for.
Any feedback would be greatly appreciated.
MFE Price at posting:
17.5¢ Sentiment: None Disclosure: Not Held
