i just had a look at the molopo accounts (pdf format - asx). if...

i just had a look at the molopo accounts (pdf format - asx). if the company had cash of $10m, as wizz kid mentioned, then it would be a good buy - however, this is not the case. my understanding, after reading the report, was that the company will receive $1.5m us dollars, as well as having US$3.5m of expenditure being carried out, to meet molopo's share of the farm in agreement. i think that is how wizz kid, arrived at the figure of $10m (australian dollars). without knowing the exact ins and outs of the deal, i would suggest that the expenditure committment, can be withdrawn, at any time - as is normal, with a lot of farm out deals (subject to a normal minimum expenditure requirement)

i can understand why mpo are trading at about 3- 4 c - not really wort getting excited about, at this stage

happy punting - anyway