re: Ann: Andrew Woskett presentation to 2012 ...
Evening all. Just going over the Woskett presentation again and two words come to mind. Seriously Undervalued!
Forecast cash in bank at 30 june is 13 million. Current value of investments is 5 million.
Just on those figures alone the stock is well undervalued, considering the MC is 18 million. Mep states they anticipate the SP will reflect the cash situation. AKA buy more at these levels.
The sale of non core assets sounds good as it will also boost the balance sheet.
Mutooroo Magnetite, Muster Dam interests me. They did report earlier this year that in addition to the inferred 1.5Bt resource at Muster Dam that the Magnetite potential at Mutooroo had increased by a possible 2.2 to 4.2 Bt.
Just guessing but this may be the next asset for sale and could bring a good price.
They also state that they will be in a a good position to do deals and take advantage of a soft market with junior companies.
Taking current market conditions into account and what MEP are planning a SP of .30 cents by years end is not out of the question.
Just a few thoughts.
MEP Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
