With respect I disagree. MEP is not undervalued. Whilst trite to say unless the market is uninformed (which I have no reason to believe is the case) the market is always right. Comparing ADN and MEP simply on the basis of the value of their JV interests totally ignores the fact that they are very different companies. ADN will (all going to plan) soon be a producer with a strong cashflow, MEP will be an explorer with a strong cashflow. Not the same. The market knows this and is pricing the shares accordingly.
MEP Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
