Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Market Matters Team, Global Lithium (GL1) is demerging its prospective Marble Bar gold assets into MB Gold via a proposed IPO. MB Gold is offering Global Lithium (GL1) shareholders in Australia priority to subscribe for fully paid ordinary shares in MB Gold at $0.20 per MB Gold Share. Can I have your view on MB Gold (MBG)? Would you subscribe to this priority offer? regards Debbie
Hi Debbie,
At this stage we know very little around MBG but believe in general its the wrong time of the gold cycle to be wading into the more speculative end of the sector. We prefer the large profitable names and even in these cases as stocks like Newmont (NEM), Evolution Mining (EVN) and Northern Star (NST) test, or make new, highs we are closer to being sellers than buyers.
Hence with the information we have to hand MM would be reticent to buy MBG in a float.
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