I still believe the most likely outcome will be a special dividend. It just doesn't cost that much ( in relative terms) to go exploring. Mybe $10 mil a year. That still leaves them with " what do we do with all this cash?" When25% of your market cap is sitting in cash it's very hard for others ( Macbanks and the like) not to want to get their hands on it. This is a classic senario from "one up on wall st". Time will tell but by June this year this company will be rediculous unless the SP rockets. If the Nickel price remains stable at these levels and there is no reason to think it won't. Then by June 2008 MCR will be able to give us a dividend equal to half of today's SP straight fromcash reserves.
IMO when this baby goes it's going up high. Then I think I will sell because it will be fully priced in but we are a long way from there at the moment
good luck to us.
cheers
MCR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
