yup this deal has done our investment proud, page-5

hocuspocus,

I am NOT holding my breath over the market stabilising this year. I've been strongly bearish all year and have made a considerable sum via shorting both the ASX and the NYSE. Unfortunately the same cannot be said recently for my MXX and CUO holdings.

I'm not excessively hopeful for rapid price action. Assuming the merger goes ahead then I expect to see a gradual appreciation of CUO towards 60c, possibly by year end.

Without the merger the MXX prospect look quite poor for the next year or so. While the fundamentals look good, the liquidity is hopeless and I see few catalysts to change that in the next year.

In the current climate I would see a fair value post merger to be around 80c. There is significant upside to that in the long term. This is still a heavy discount to NPV and asset value, but I think that it is deserved in this current climate. (Remember anaylsts are pricing this at $1.20!)


**Everything in this post is purely my opinion. Much of it is little more than educated guesses. I do not claim to be able to predict future price levels. Do your own research.