I just love the previous post regarding a retrace to 19cents....:}:}
So I thought I would through in the thought that MPO could easily get to a dollar.
Why???
1. Calibre of management...highly qualified team who know what they are doing. Not one Perth Solicitor amongst them ramping the price....primarily geos with substantial CBM expertise.
2. Prospectivity of tenements...in known producing areas with initial positive results. Risk of finding and then bringing to production is to the upside.
3. Insto involvement....broker report on Paritech Pulse shows net volume of 6.5m Goldman Sachs...3.2m Aus Inv....2.3m Citi....2.3m Bell Potter....1.8m ABN Amro...1.2m Ord Minnett....0.8m JDV Lt....etc
Instos are not in this for fun...they're in it to make profits. Whilst their net volumes remain positive it means they continue to see profits.