markets awaits molopo, page-42

Legacy just closed at C$10.17
MPO has 6,180,000
so thats C$62.85m
A$1 = C$0.9819
so Legacy shares are now worth A$61.71m

Cash A$91.3m
Totals = A$153m

at 29 july # shares 246m

so cash/shares = 62c p/s

so theoretically someone could buy all the shares at 63c, and get all that back in form of MPo cash at bank and sale of Legacy holding.

but of course they would not get many shares at 63c!
in the last 5 days, incl the last fallout, only about 3m MPO shares changed hands.
so with number of shares on issue at 246m, those 3m represent bugger-all.

but for a small punter, like us, the prospect of paying 63c for a share with 62c cash/legacy backing, and getting all the assets for nothing, must have some appeal.

if they sold Mungi for say $120m, then thats another 50c per share in cash just there!
plus you still have the Nth American assets and Sth African assets.

( i did note in the Qtrly that they have/or plan to, write off the "Quebec assets" - not a good sign).

as you guys have already pointed out, it really a no-brainer.

i wish i had some more money.

of course, i could sell some other shares = oh, hang on, there not worth anything any more either!

cheers