Afroboy, not really. I guess I've made what I believe is an informed decision that MAE is now a high risk investment and the lesser of two evils is to be out of the stock until management can demonstrate sustainable production. This could all change if they sell Oklahoma relatively quickly and for a good $. I'm just not comfortable any longer with a company with about 3 months working capital (as of 30/3) and no demonstrated sustainable production. Different story if they had $50m in the kitty which would be the equivalent of 12 months working capital.
Companies fail. I witnessed the One Tel collapse when two weeks prior the company lodged a fairly impressive and bullish investor presentation. And if anyone remembers, the pedigree behind the company was 1st class - The Murdochs and Packers.
MAE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
