JP Morgan are bust so anything is possible. They are not serious issue for MCO. Re the options: I thought through this issue carefully before buying in today. I will relate experience of TGS. Had huge number of options expiring late march 2008. Strike price was 45c. SP of 45c. Option price deterioated with time frame and at deadline were close to zero (1-2c). About half the options were never excercised by the holders. However, institutions were then allowed to buy options and one insto bought the entire remainder.... about 35 million at 45c strike price. Since then TGS SP has shrank as they cannot get permission from Congo govt to start mining their monster Cu project. So i feel confident if all the MCO options are not excercised by the holders,then institutions will buy them up and convert into shares. By then MCO will have had 2 full months of gold producton. Quite different from a deposit in the ground. The other factor is we have drill results being announced over next few weeks. Good assays will ensure much more interest in the options. i expect SP to be well over 25c by Dec 31st. Yes.... option issue is a risk but mkt will swallow them up i feel. Hence, don't let this stop you from considering buying some at below 2c. Could have massive leverage.
MLX Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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