Did anyone read the one-page MPO ASX announcement late today?
I skimmed an announcement this morning by **ovich/Metcalfe but I thought it was several pages long ... which said that MPO had made a provision of $8.6m AUD against the Canada claim. But it also said MPO also had to hold $36m CAD against the claim (1AUD=1.02CAD). There is no reference to any of this in the afternoon ASX announcement?
If MPO has $66.9m AUD in cash at the end of the last quarter, but has to hold $44.6m AUD (??) then there is only $22.3m AUD left to invest?? Or did I imagine reading this earlier today???
MPO Price at posting:
14.5¢ Sentiment: None Disclosure: Held