Half the companies listed in the exchange have no revenues and are looking for gold/li/tech etc - that's why they are spec stocks!
Like I've put forward several times - they sit on a tenement between AJM and PLS. Both are successful and their market cap on avg is $300mil. With the region MPJ has a tenement in - one would assume they have a greater than zero chance of finding quantities of lithium. My conservative estimate until further derisked is about 20%. Taking a yard stick approach, market cap should be $50-60mil, about double where we are.
When others realize this, share price will 'reflect' the markets speculative valuation. We are far from this.
A shell ASX listed alone ranges from $3-5mil depending on structure. People often forget this too.
Consolidation on Friday will also bring about a re-rate. MPJ will want this to exceed 1.5c so that options are exercised and they can take advantage of $14mil via exercised options. Not saying MPJ have gone out and assigned a broker to do this, but they will come out with some juicy news to jolt the market IMO.
Either ride the wave or not, I'm in!
Half the companies listed in the exchange have no revenues and...
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