Metal Australia Essay

2188 words - 9 pages

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DALE MILLS
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88807153
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CORPORATE REPORTING
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(FIN2FIN)
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METALS AUSTRALIA LIMITED (MLS)
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This area has shown significant potential (Metals Australia Ltd 2007, 6)
Consistent with its interim vision to institute itself as a zinc producer, the Company’s immediate strategy is to expand its Manindi Zinc project in the Murchison District of Western Australia.
Manindi is at present estimated as having a global resource of 1.05 million tones averaging 7.64% zinc and containing 80200 tonnes of zinc metal. This area has a significant potential to increase the resource tonnage through further exploration, and a diamond drilling programme which is still in progress. (Metals Australia Ltd 2007, 2)
As the zinc market continues to strengthen, and with the looming supply shortages in China and the United States, strong upward pressure on prices is expected to be maintained, offering Metals Australia an excellent opportunity to capitalise and become a significant supplier of either zinc metal, a zinc concentrate or raw ore.
Metals Australia is at present heavily engaged in a nickel project at Sherlock Bay which will be operated as a Joint Venture with Fox resources Limited. Fox will provide management and meet all costs up to a decision to mine (Metals Australia Ltd 2007, 9).

METALS AUSTRALIA LIMITED DAILY HIGH SHARE PRICES FROM 3/10/2008 – 14/4/2008

Date | 10/3/2008 | 11/3/2008 | 12/3/2008 | 13/3/2008 | 14/3/2008 |
Share Price ($) | 0.057 | 0.053 | 0.058 | 0.053 | 0.056 |
Date | 17/3/2008 | 18/3/2008 | 19/3/2008 | 20/3/2008 | 25/3/2008 |
Share Price ($) | 0.056 | 0.055 | 0.055 | 0.053 | 0.053 |
Date | 26/3/2008 | 27/3/2008 | 28/3/2008 | 31/3/2008 | 01/4/2008 |
Share Price ($) | 0.05 | 0.049 | 0.048 | 0.041 | 0.04 |
Date | 02/4/2008 | 3/4/2008 | 4/4/2008 | 5/4/2008 | 6/4/2008 |
Share Price ($) | 0.04 | 0.04 | 0.044 | 0.047 | 0.046 |
Date | 09/4/2008 | 10/4/2008 | 11/4/2008 | 14/4/2008 | |
Share Price ($ | 0.044 | 0.044 | 0.045 | 0.043 | |

(Australian Stock Exchange 2008)

MARKET CAPITALISATION
Market capitalisation is a measurement of corporate or economic size equal to the share price times the weighted average number of share on issue during the financial year providing a total value for the company's shares and thus for the company as a whole (Viney 2007, p 181).
Metals Australia has a total of 669,608,765 shares on issue. The daily high for the 14th of May 2008 was 0.043 Dollars. Therefore, we can say that at some stage during that day Metals Australia had a market capitalization of:-
669,608,765 * $0.043 = $28,793,176.90
Market capitalisation represents the public consensus on the value of a company's equity. Therefore, it is a market estimate of a company's value, which is based on perceived future prospects, current economic and internal financial conditions.

DIFFERENCE BETWEEN SHARE PRICE AND SHARE VALUATION

The share price is the current quoted price at which investors buy or sell a share at a given time.. For example the share price of Metals Australia on the 14th of May 2008 was 4.3 cents....

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