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iShares Global Materials ETF V.MXI


Primary Symbol: MXI

The fund seeks to track the investment results of an index composed of global equities in the materials sector. The fund seeks to track the investment results of the S&P Global 1200 Materials Index (the Underlying Index), which measures the performance of companies that S&P Dow Jones Indices LLC (SPDJI), a subsidiary of S&P Global, Inc., deems to be part of the materials sector of the economy and that SPDJI believes are important to global markets. It is a subset of the S&P Global 1200.


ARCA:MXI - Post by User

Comment by wilwalon Jan 27, 2015 2:48pm
149 Views
Post# 23368968

RE:RE:RE:Goldcorp pays $526 million for Probe

RE:RE:RE:Goldcorp pays $526 million for ProbeThe price of gold isn't as highly correlated to value in the ground as much as, for instance, the price of a gold miner's stock.  That said, a higher price of gold will certainly help, but not as much as one might think.

Pricing this is almost impossible.  As you can see, IMG and MXI couldn't even do it today with the debt settlement agreement.  Obviously they know that MXI is worth a lot more than current market value but they really don't know either as long as highly accretive drilling is ongoing.  If you read between the lines of today's announcement, you can roughly figure out the drilling budget for 2015.  If they owe IMG $1 million or so from 2014 with $2.5 million in stock going out, that means we can look to a budget of $1.5million x 2 = $3million or so.  That is extremely bullish news.  They have something good there and they are going to drill the heck out of it.

That said, I would suggest that we look for a buyout range of .25-.75, depending on the results of drilling both in Diakha as well as the auger results in the other permits which may add value to this.  I would suggest that if MXI offered this to IMG today, they would pay .25 without blinking an eye so I think we can discount the possibility of .25 unless the next drill results are bad. MXI management knows that this is worth a lot more than that, but how much is impossible to know without more drilling results.  Personally, I'm thinking .50-.60 at the moment but that will change when we see the fall drilling results come out.
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