under valued, page-141

Sailnyssa
I think both MGX and GRR are siting in cash is they are both looking to invest outside IO and diversify and both have set IRRs that must be achieved with new ventures.
As you may know I hold both and I regularly speak to both companies - both are doing a good job managing the current IO markets and still adding to cash and both are looking to use cash in other sectors. Given they both make cash and trade at heavy discounts to cash - both will in my view make a move eentually in part to protect their own future and when they do we will have an opportunity to sell on the news or stay longer if we like they way they deploy cash