Based on the following excerpt, it would appear the rules you mention don't apply to MPO (being an oil/gas play).
If half or more of an entity's total assets is cash or in a form readily convertible to cash, ASX may suspend +quotation of the entity’s +securities until it invests those assets or uses them for the entity’s business. The entity must give holders of +ordinary securities in writing details of the investment or use. This rule does not apply to the following.
A bank or a non-bank financial institution.
A +mining exploration entity or an +oil and gas exploration entity, unless ASX decides
otherwise.
I'd argue the government gives these guys more time to maximise the likelihood those dollars are directed back into the mining sector. Rushing the process only leads to poor investments, or money moving out of the industry.
We've been sitting at $0.12 for a while now, so anything solid acquisition wise should invite a significant re-rate. I'm sitting tight.
MPO Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
