value of MMR, page-28

@Whiplashed - DB was reassuring, which I guess is his job and as I said he is concerned about the disadvantage MEC holders have experienced in recent times, whilst BPH has surged ahead - look at their SP and MEC is just standing still. He was concerned with the PDF status and I feel he had put in a lot of work to try to save it. Like most here, I hope he doesn't spend too much time trying to appeal it as I think it is wiped off the board - a relic of the past.

I think the company will need money in order to resume trading. That being the case, I don't really know whether a CR would be at a prospective price, or at the last price that MMR traded. I wouldn't mind picking up some more 0.4c shares if the company was to resume trading not long after - a nice profit is all but guaranteed there. A 1 for 8 share entitlement issue may give them enough money to get the engine started again and then raise at a much higher price after resuming trading to put to PEP11. Not sure if I am on the mark here or not.

I have predicted a consolidation before , and I think it is still on the table as we approach one billion shares on issue (about 882 million after the Advent and Asset loan share issue), although BPH is also getting up there with about 652 million shares and close to 100 million options floating around I think. So I'm not sure what DB has in mind there.

I value MMR and BPH about equally now - but if MMR doesn't get back on track soon while BPH raises more and more cash for PEP11, or if MMR regains PDF status somehow and continues to live under the 30% rule, then our interest in Advent will fall rather precipitously.