Ann: Prometheus Acquisition Update, page-10

IMHO....the SP took a hit when the prospective deal was first announced simply because Prometheus appeared to be a bridge too far. Massive dilution that felt like a RTO for a high risk project (albeit with a massive potential upside). Lot of holders would have exited in fear....and the elongated suspension leading up to that announcement would not have helped. Those who bought in cheaply, were most likely speculating on the Prometheus upside so todays announcement sees the next wave of exiting holders.

Time for the BoD to remind the market of what the company has (in terms of prospects and in terms of war chest) and to have a plan of attack (including timetable) that brings investors in rather than waiting on the sideline or exiting until nearer some action.

I cant help feel that the company has lost focus and direction this year and now that Prometheus is no more (for MRD) it is time for some leadership to seize the reins and paint a compelling picture/narrative.

All that said, I think Prometheus going their own way via an IPO is the right strategy for them and for MRD. The two "projects" are too different with wildly divergent risk profiles, and capital needs for a small company to do them both justice. Much better for shareholders to invest in them separately should they choose rather than through one investment vehicle.

C'mon Mr Hood. Time to talk clearly and expansively about near to mid term plans and then to follow it up with immediate actions.