The options expire in Sept. 06 with an exercice price of 50c.
Monto is expected to begin trading on the AIM tomorrow. Note: The company has noy yet confirmed this....but I expect an announcement before tomorrow.
The reason why the company went to the UK was because they needed to raise AU$40million so they can develop their industrial mineral project which is based in QLD. Should the options get exercised (a very good chance imo) the company will only raised $3.5million.
Further, Monto decided to go to the UK to raise the money because the UK investors have a better understanding of mineral mining than anyone else-this amount would not have been raised in Australia.
You should quickly browse Montominerals website for further information.
One final point, the AIM market cap on listing will be AU$57 million whereas the ASX market cap at the moment is about AU$17million.
Once this news is announced MOO will get a seriously re-rated and could very easily triple in price in the short term. Mind you there are less than 50million shares on issue so there will be little resistance from the sellers once it takes off.
This information I am providing is in the public domain but you need to know how to find it.
MOO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
