All right, you might have a point. It is just that I have an unfortunate number of dogs turn into particularly sour lemons recently.
Bemax Murray Basin production appears to be much more desirable than the WA production, and the valuation is probably based more on Murray Basin than on WA.
I note that Bemax produced ~ 36,000 tonnes of ilmenite (from WA) and received a sales revenue of $8.4, most of which was for ilmenite.
If Monto was to be able to produce 60,000 tonnes (2008 target), and it was able to achieve the same price, it would result in income (just for ilmenite) of ~ $13M. The Monto 2009 target is 140,000 tones.
This ought to be enough to justify a much better price for Monto - so maybe I won't sell this one.
MOO Price at posting:
0.0¢ Sentiment: None Disclosure: Held
