Ann: Appendix 4C - quarterly, page-3

Completely agree mate. I did a bit of research into this one a while ago and wrote this in another thread:

"The most obvious question though is do management really care about the SP of MDG? Cash is siphoned out of MDG every year to other companies that the directors have interests in. As long as the business is making a bit of cash they might be happy."

I didn't consider the point you raise about management possible massaging the books to have OCF breakeven. The development costs has been raised on HC before and I completely agree, it seems like a very high price, but it is hard to say conclusively without more evidence.

I also agree that 7c looks like a good low-risk entry. I might look a bit more at MDG again later this week with that 75k at 7c still there.