myronc,Thanks for starting this new thread. As Dave suggested we...

myronc,

Thanks for starting this new thread. As Dave suggested we were well off topic on the old thread. Didn't see it before typing my analysis on who The Lind Partners actually are. Happy to continue the conversation here instead.

Sadly I don't know the answer to your question #5. I don't know of one defense stock but thats not to say it hasn't happened. The AU market doesn't have loads of defense stocks so probably not a large enough sample case to draw any conclusions. Every situation is different anyway I guess.

More broadly the answer is yes. There have been many examples of companies coming back from these prices. In Dec 2009 Samsons Oils options were trading at 0.003 and today they are trading at 10.5c and have been as high as 20c. Thats just one recent example of the top of my head without doing any digging so it definately can and does happen.

There is a big difference between many of the companies that come back and MSTs current situation. SSN for example had a cash injection of $70mil by selling some of its land leases thereby leaving it cash rich and able to retire all debt and pursue its development program well into the future. MST on the other hand sits where it is because it can't find access to the cash that it requires to complete its development. MSTs well is almost dry as it has tapped its investors so many times and there is little left. Not a judegement, just the harsh reality as things stand. A deal that promises cash flow would no doubt losen many a purse string but at the moment they are relying upon "interest" rather than anything tangible.

My gut feeling is that MST will be acquired. Its an easy target. Suspect the ground work has already been done. I know some will see any such statemnent as a criticism of management but it isn't intended to be.

Sadly the last investor from the Philipines who management reached a funding agreement with must have looked good to them also. We all know what happened there, or do we ? Who was he and why did he constantly tell our management that the money has already been electronically transferred, never to turn up ? Who does that sort of thing ? Why did we never find out the truth ? MST even sent senior staff over the the Phillipines to sit with him. One of the strangest things I have even seen in my 25 year in the industry, and I've seen both Bond and Skase at work !

Now what do we know about our new investor ? Certainly not a lot by the look of things. What does management know about them ? They didn't mention Springtree. Do they know who is behind this ? Sorry if these questions seem harsh but after the Phillipines I suspect shareholders have the right to ask don't they ?


PS. CJS, here's the link to The Lind Partners website. Your quote was obviously from the Springtree website.