If this is the case then this is a firesale of the Spearfish asset. Mitchell and Bishop have repeatedly told us that the Spearfish is worth 95c per share. A sale at 185mil is worth 71c per share.
Like i have said before this management team have been frivolous with our money. They have wasted the proceeds of an asset sale and a capital raising by focusing on the Spearfish. We will not recupe all this cash from the asset sale.
I want a management team that can make efficient use of cash because I want a return on my investment.
MPO Price at posting:
$1.06 Sentiment: LT Buy Disclosure: Held
