I am reviewing the Investor Presentation from July. It says MRE had $360m in cash at 1 July and returned $110m in the capital return.
That leaves $250m cash plus the free cash flow from the past 6 months, maybe $50m. We could be sitting on $300m cash right now.
The significant capital return of 9.5 cents per share has barely made a dent in our cash reserves.
Expect dividends or growth! :D I am happy to have 22% of my holdings in MRE, even with the rubbish AUD/USD.
"Minara Resources is ... Actively pursuing growth opportunities, both organic from internal sources and externally through acquisition"
There are almost 10 growth options on the cards, some nearing completion.
"Minara's strong operating performance and financial position allows a new growth focus."
I expect good news in 2011, although the potential for a takeover is definitely there...Glencore already owns 71% and MRE is undervalued (in my opinion).
MRE Price at posting:
95.0¢ Sentiment: Buy Disclosure: Held
