Post by
narmac on Jun 16, 2014 5:01pm
MOL now owns 17% of Unity Mining Limited.
Maybe we take controlling interest in this venture!! for about $6 or $7 million we probably can get it!! It is almost worthless so why not take it out if it is at a rock bottom price!! Just surmising!
Comment by
OnDaBall on Jun 17, 2014 10:23am
It might be worth it to own the mining equipment that could be used for the molybdenum if the price gets above $20 - $25. Maybe management is being shrewd after all.
Comment by
narmac on Jun 17, 2014 11:16am
Maybe,,,,,,,,,,,,,,with the delistings etc,,,,I would assume Hanlong wants to increase share percentage over time and get access to more of that $80 or so million through attrition to existing shareholders,,,,,,,,,,,,well worth their effort to be buying at this depressed level!! JMO
Comment by
G1945V on Jun 18, 2014 8:00am
narmac: Is this a fire sale of UML. This compnay looks pretty healthy., as of June 2013. Assets @ $115M... Liability ...@ $29M Total Cash $27M Plant & Equip @ $60M Why would they sell controlling interest for cheap $6..7M when they have more money in the bank than that. What am I missing?..Good deal it MOL can swing it.... But do what with it ? G1945V
Comment by
G1945V on Jun 18, 2014 9:08am
FYI: 17.4% interest now,... previously stood at 5.02%:
G1945V
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https://www.unitymining.com.au/wp-content/uploads/2014/06/20140610_Moly-Form-604.pdf