March Quarterly is due out in the next 9 trading days (must be released by COB 30th April 2009).
I doubt they will make an announcement WITHIN the quarterly - firms very rarely do, but keep an eye out for it anyway.
AT THE VERY LEAST, the Quarterley will give us an up to date CASH position for the company upon which we can calculate up-to-date Cash backing per share numbers.
I don't think Spinifex Ridge is going ahead any time soon, but even at 50c, MOL has a Market Cap of less than $50million versus cash backing of over $100m
And remember...the sell down from 90c to 30c late last year was the Harbinger dumping their stock after MOL price had already collapsed from over 200c.
It can be argued that this current rise is no more than the share price simply re-adjusting no that a little more stability has returned to stock markets but I would venture a guess that something is certainly "up" somewhere.
Either an acquisition of a near term production project or someone sniffing around for a cashbox trading at 50c in the dollar.
Either way...it is good for those who have jumped on board.
Lets watch and see what happens over the next 9 trading days until that Quarterley arrives.
Coop
MOL Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
