'Recently we announced our intention to list the Canadian oil assets on a North American exchange. This is aimed at maximising value for shareholders, for we believe the value of these assets are not being accurately reflected in our ASX share price. The timing of the listing has been influenced by many factors but derisking the play, securing acreage and establishing production.'
These sorts of comments from Molopo management really annoy me. Australian investors recognise value in an asset particularly when it involves a commodity.
The issue preventing share price appreciation is a lack of direction by management, lack of management performance and no progress in Utica. There is nothing else.
Canadians will have the same problems as Australians.
I would like to know what happens if the IPO is a flop? Molopo management need to reassure shareholders there is a Plan B.
MPO Price at posting:
$1.01 Sentiment: Hold Disclosure: Held
