MGX Diversification, page-3

Yeah return it the shareholders - given the company has about $20-30million in franking credits it could have paid a 7 cent fully franked dividend. That would have been a nice start and left the company with about $250 million.

Here's some other options:

1) take over GRR - its got $150 million in cash alone and has a market value of $105 million.

2) With the then $400 million after the take over of GRR it could start scouring the globe for oil/gold/mining companies with too much debt and buy the debt from the banks at a discount to the dollar.

3) Look at buying some small or large goldies with big reserves but little cash - SLR/RMS/BSR are all cheap - the first two are making decent profits and aren't trading much more than 1 years profit.

Very lazy management team this lot. I hold but am disappointed they didn't pay out a dividend to use the substantial franking credits - free gift of 20-30 million to shareholders is going to waste. They don't need to sit on $320 million. Talk about a lifestyle company!