Yes, their 2007 annual report stated the following;
Investments The Company’s Available-for-sale-investments continued to perform strongly with the fair value of its investments increasing by $4,975,000 to $8,700,000 at 30 June 2007.
MLX closed at 38.5c on 29th June 2007 and assuming that was their only investment that would confirm the 22,500,000 shares. They declared $1.2m cash for the quarter ending 31 December 07 and are burning cash at a rate of approx $450K a quarter so I dare say sometime during the June quarter they will either cash in the MLX shares or do a capital raising!
Those that like to dream can dream that the oppies end up in the money and that they do not have to do a capital raising or MLX share sale. Heres hoping!
AEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
