When some of us refer to Mosman scrip as worthless, we obviously do not mean that literally, since the AIM market values it currently at 4.5p on the bid.
What I think we are meaning is that we see no real worth in their company from a MEO perspective.
That is they have no giant prospects partially farmed into already such as Breakwater and Beehive, nor do they have upcoming discussions such as ours, which could release the substantial value of our Tassie Shoals Methanol project.
Also as was pointed out earlier we have Heron, as well as Cuba block 9,
And finally we have a substantial cash backing.
We look at Mosman and see nothing of value to us, ie they may have something in Murchison, who knows, but we do not think they have the funding themselves or a JV partner to help them proceed.
So my question is, who would want to give up their MEO shares in exchange for theirs.
Or more interestingly who has given up their shares and why?
Maybe anyone who has signed up to the Mosman offer could enlighten us as to their reasons for doing so?
MEO Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
