Blackpete, I always admired your posts but, to think that the sp will move up to the cash level and reaching its cash backing, well mate I have news for you.
You simply have to go and look at the share price of MPO and how much cash they have had in the Bank, for years and years.
Bloody shocking display if you ask me.
Like you've suggested, I have been waiting for all these years for the sp to raise to its cash backing, and I am still waiting and waiting and ............... well you know the rest.
And in closing, the sp of MPO at present is less than half of the cash backing and sitting at just 13.5 cents per share while their cash backing is of at least 28 cents.....
I wonder why and I wonder as to how you can be so sure that things could be different in our case.
And don't forget about that big shareholder we have in the books now which, funnily enough, are the same mob holding a controlling stake in MPO.
Go figure!!!!
MEL Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
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