Morien Resources (TSXV: MOX) gained another 3.57% on Friday to finish this week at a new 18-month closing high of $0.435 per share. For the week, MOX gained by 29.85% making it MOX's sixth straight up week!
MOX's market cap is still at an insanely low level of $22.15 million where MOX is only receiving $17.15 million in value for its 2%-4% gross production royalty in the Donkin Coking Coal Mine!
MOX went public in November 2012 through a spin off from Erdene Resource Development Corp. (TSX: ERD). After ERD completed its spin off of MOX on November 9, 2012, shareholders owned an equal number of shares in both companies. At the close of trading on November 9, 2012, MOX's market cap of $11.33 million was 12.62% higher than ERD's market cap of $10.06 million.
Today, ERD's market cap of $109.79 million is nearly 5X higher than MOX's market cap of $22.15 million! Look for MOX to once again surpass ERD's market cap before year-end 2021! For MOX to once again trade at a market cap that is 12.62% higher than ERD's market cap we will need to see MOX rise to $2.43 per share!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. This message is meant for informational and educational purposes only and does not provide investment advice.