This is good news for the Company as it is expected to have a positive effect on the earnings per share of MUIP for the financial year ending 30 June 2020 due to a gain from remeasurement to fair value arising from the Proposed conversion.
very good news, now Mui Prop have golden egg, the yearly earnings from the golden egg shall be double digit million, low PE, cash flow very healthy. Bahvest also doing gold mine, the price also above 50 cent, Mui Prop now only 17.5 cent, this can make you all earn 300% ~ 500% ? hohoho
Good news for Mui Prop :- Mui Properties- It's wholly owned investment firm Cesuco Trading Ltd will be converting a A$1.5 Million ( RM4.25 Million) secured convertible note in an Australian gold exploration company into ordinary shares
Cesuco will convert the notes into 132.47 Million ordinary shares of Nex Metals Explorations Ltd - 40.73% of the enlarged share capital of Nex Metals, at an issue price of A$0.01338 per ordinary share.
Cesuco Trading has advised Nex Metlas of its decision to exercise the share conversion, said MUI Properties in a statement. Based in Perth, Nex Metals - listed on Australian Securities Exchange - is primarily in gold exploration. Mui Properties said the conversion is subject to Nex Metals shareholders' approval.
Nex Metlas, earlier this year, entered into an agreement with Metalicity Ltd, another listed mineral exploration company in Australia, to undertake exploratory drilling on nine separate gold mining sites in the Kookynie area.
Test Results from the nine reversed circulation drill holes undetaken by Metalicity confirmed that gold miniralisation exists beyond what historical data based on the previous drilling had indicated.
Now you know why Mui Properties price has been on an uptrend lately. MuiProp near TP 0.25, next TP 0.38
Mui Properties- It's wholly owned investment firm Cesuco Trading Ltd will be converting a A$1.5 Million ( RM4.25 Million) secured convertible note in an Australian gold exploration company into ordinary shares
Muiproperties will be earning exchange rate as it's subsidiary is an Australian company... Gain in foreign currency ...
MUI Properties: To own 40.73% of Australian gold exploration firm after exercising share conversion. MUI Properties said it will be converting an AUD1.5m secured convertible note in an Australian gold exploration company into ordinary shares. It will convert the notes into 132.47m ordinary shares of Nex Metals Explorations Ltd, representing 40.73% of the enlarged share capital of Nex Metals at an issue price of AUD0.01338 per ordinary share. (The Edge)
MUI Properties said its wholly-owned investment firm Cesuco Trading Ltd will be converting an A$1.5mil secured convertible note in an Australian gold exploration company into ordinary shares.
This will result in Cesuco holding 40.73% of the enlarged share capital of Nex Metals Explorations Ltd, a Perth-based company that is listed on the Australian Securities Exchange;
Muiprop is anticipated this coming Nov21 to be released qtr result, profit to increase. Buy now, once the result out, Muiprop will go higher. Muiprop at 0.18, a very good price to buy
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
fengshui88
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Posted by fengshui88 > 2019-10-22 13:28 | Report Abuse
Good research from Calvin! I m vested with my spare cash! Buy before it moves higher.