I agree with your views re sales and dividends etc but you have...

I agree with your views re sales and dividends etc but you have to cast your mind back to the start of MEP which grew from the sale of MNR (and a healthy return to shareholders) and the Prominent Hill project to Oxiana. i can't recall the exact figures but the share price went up many,many, many fold in a couple of days immediately after some fantastic cores were made public. Went from about 10c to about $2 and memory seems to be that the sale went at $1.35per share... as I can't find the paperwork at the moment I await to be corrected.

I am sure that this will happen again. Where? Cloncurry.
This I believe is now the main focus for MEP. Why? Apart from a couple of areas which are a JV with BHP the project is 100% MEP. That is the reason for the recent cash raising ...to concentrate the bulk of their resources on this project... who is the team leader? none other than the Exploration Director Tony Belperio who found Prominent Hill.
Wait for the results to come out and this project will also be sold out to a big miner. Who? could history repeat itself with an eventual sale to OZL who have a heap of money and looking for another IOCG project to invest in.

I reckon we fit the bill again for the former OXR now OZL.

I hope the teams are drilling like crazy in Cloncurry.

All speculation and guess work but who knows?

kippax