Q: What is your view on Lumina Metal (LMCU) a recent IPO by R Beaty. It is claimed to be a large copper and silver deposit in Poland with a mine to be ready in 5 years. What do you think would be a reasonable valuation today?
Thank you for your invaluable service.
Peter
Thank you for your invaluable service.
Peter
5i Research Answer:
There is not much to go on here other than IPO sales documents. Valuation depends on drill results, future financings, permits, market backdrop and many other factors. The sector has been strong this year, but the initial reception to shares was not gangbusters. In the absence of more news, we would give it a range of $10 to $14 today.