My thoughts are that MRV look to be diversifying into metals. A...

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danno22

182 Posts.

30/01/15

10:23

Post #: 14665324
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Originally posted by poppypop ↑

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.

"1.0 FINANCE and COMMERCIAL
We continue to maintain a strong cash position, with total cash at bank of $5.3 million at the
end of the quarter.
Net cash outflows of $623,000 were recorded in the three months to December, including
$112,000 in payments associated with progressing the Kingaroy and Mackenzie tenements,
$44,000 to progress the rehabilitation of the Kingaroy UCG activities and $47,000 of interest
received on cash deposits. Excluding these items, the underlying administration spend was
$502,000. Administration spend was above last quarters spend due to costs ($65,000)
associated with closing out legacy issues from 2013.
During the current quarter administrative expenses are expected to remain steady in real
terms and approximately $750,000 is forecast to be spent in finalising the MacKenzie
exploration program."

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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

MRV Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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My thoughts are that MRV look to be diversifying into metals. A...

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