Wipeoff, I have been accumulating shares in the company over a number of years on the basis that MLS have very good prospects to win the Appeal.
I'm a contrarian investor and think the stock has massive upside potential given one of their tenements appears to have a very large near surface, high grade deposit of uranium. At 1.4c MLS has a market cap of $10m. Compare that to Extract ($1.5bn) and Paladin ($2.9bn) that have uranium mines in Namibia and you start to appreciate that the share price could be multiples in the future if they win the appeal and demonstrate good resource potential. I also note that the MLS uranium deposit could be analogous with the Rossing mine part owned by Rio Tinto (due to the uranium bearing alaskite).
If they win the appeal I wouldnt be surprised if the share price hits intra day highs of 4-5c...Add in good drilling results in the near future and the sky is the limit! (10 - 20c)
There is scope to appeal the Supreme Court decision under the Namibian Consitution if the company could demonstrate there was a complete miscarriage of justice. But Im not sure the company would pursue this....
MLS Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
