Polo Resources have just announced they are intending to pay a 3p special dividend to their share holders in the near future. Why is that important to MEY?
Well, Polo hold nearly 10% of Extract which has long been touted by the Koreans. Polo arent exactly rolling in cash at the moment and the only way they can return this sort of cash to shareholders given the assets they hold is if the sale of their Extract sale is close. Management have hinted at this recently.
Hopefully this will refocus investors attention on Namabian Uranium assets and the value on offer in the region. Next week could be interesting as MEY is by far the cheapest asset in the region.
PS MEY shares rallied strongly into the close in Frankfurt closing up 7%
D
MEY Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)