Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
MAC share price has bounced between $16-$20 over past year. They raised $150M in Oct 24 with Instos to tidy up Bal Sheet & prep for growth. Their price doesn’t seem to correlate too strongly with Cu price. Are they going to grow and make money, so being a worthwhile investment? Are they on your radar? If not, what would it take for MM to consider? Thx Glenn
Hi Glenn,
A new stock to the ASX with a market cap of around $1.4bn but its fairly illiquid, only trading around $700k worth of stock each day. For subscribers not familiar with MAC it was formerly known as Metals Acquisition Corp, a Jersey-based company focused on operating and acquiring metals and mining businesses critical to the electrification and decarbonization of the global economy. The company’s primary asset is the CSA Copper Mine, located near Cobar in western New South Wales, Australia.
As you said last October MAC successfully raised approximately A$150 million (~US$103 million) through an oversubscribed placement of new CHESS Depositary Interests at $18 but the stock continues to hover below the raise.
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