tFMG, good post. In my view (as you also state) the cash is not reflected in the SP because the money will be spent on drilling with unsure outcome. However it will take one good core and a bit of promotion and the SP will rocket.
I have seen it in the height of the GFC with IVA who found their Merlin depot and SP did go up from 20cents to $4. Even that did take a number of weeks though, so patience was important even with the highest grade worldwide for a Mo/Re deposit. The change for IVA came with a first page article in the Australian.
Management, cash on hand and projects all look good at MEP, so all we need is a bit of luck at the drill and some patience (and a world economy that is not totally defunct).
Good luck all!
MEP Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
