repositioning for toronto listing?, page-3

Thanks for that Noellyn

I did not know that Legacy was the operator of that highly performing well! That is a bit of an extra bonus for MPO with our share holding in Legacy.

Also this gives confidence in Legacy's performance in developing its own resources, which will hopefully help see its share price recover, and MPO gain a bit on the back of this.

On the TSX Listing, I would like to see the share price a lot higher first, as I assume they would raise some capital through the process. Hopefully sell Mungi for a handsome sum, have good results from current drilling program in 1Q 2012, and then target listing for 2Q or 3Q 2012.

Frustration with the share price is obvious, but so is the fact that the upside vs downside is absurd. I think given the frustration, there will be a few long termers that want to move on when price does get back up near $1... so we will need some pretty good news to break through that barrier. Ideally listing would happen around $1.50 or so...

A lot really depends on the result of the Mungi sale. IF you look at the market cap at the moment though, we are basically all cash and legacy shares. No value is given to Nth America, QLD or Sth Africa. Even if Mungi sale was a complete flop, there is no real downside to the share price long term. There is a real chance of an upside rerating however if they deliver a good result.