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clock Created with Sketch. 30/01/15
10:23
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Originally posted by poppypop
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Yes, totally agree SatinTape. Except I'm a lot less optimistic. $7.8 million is the refund from the ATO in May is now only worth 5.3 million. They are averaging $750,000 per quarter expenditure with NO income and they want to spend more of the $5.3m on buying other mine/s when they have no income other than hand outs from the ATO. The chance of quick success in buying a new mine is not good otherwise they wouldn't be selling them. So I'm feeling this could be the beginning of the end or a very long dismal future for MRVs SP at this point. Thermal coal mining is also not very fashionable anymore in regards to ozone depletion and pollution, so I'm getting out at the next spike or possible before. The company is not over valued I just don't see it going anywhere soon and would prefer to have my money elsewhere.
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My thoughts are that MRV look to be diversifying into metals. A good move in my opinion. Grabbing metal mines in a slump will add value through investment. Yes its not going to add to the cash situation but there is oportunity there
