vre in voluntary liquidation, page-4

EL,

No doubt that MCR is cashed up and on the prowl. But what I really like about Moore is that money does not burn a hole in his pockets. He will properly evaluate any opportunities and will only go ahead if he can get a good price.

The buyout of VRE's share of carnilya is a classic example. Actual cash payout of 22.5M. But VRE had already expended some 6-8M on their share of capital development, so the effective payment was around 15M for the defined resources (plus all future resources subject to a possible 2.5M royalty).

As to whether Moore would be interested in Bronzewing, I do not know but I am sure that if he was he would do proper due diligence on the project and not pay over the odds for it.

Whilst MCR is out of favour with the market now, I see this period as the consolidation phase whilst it sets up its future expansion and hopefully the next leg up for its share price.