tight as a drum, page-10

Fontenay,

With $87m in the bank + when they sell those stockpiles ("not assign a value" as yet) then MOL can potential end up with $150m in the bank. With that much money, MOL will generate enough term deposit interest from banks to cover all the expenses including wages. They are not spending much on moly project exploration.

If they don't do much with that cash, when come to AGM holders will vote directors out to cut number of board members. Have a look at MMX (Murchison Metals). After MMX paid special dividend (sold the project), holders want to wind up the company ASAP to reduce payments to directors.

As I said before, if nothing good come up... may be pay out cash, sell down iron ore stockpiles and moly project. Holders could potentially get $0.50/share (if get good price for iron ore stockpiles & something for moly project).

Either way, I'm in profit at 11c and hard to see sp fall below that cf with other micro-caps without any cash income.

Have look at ROY... paying wage almost $1m/quarter and is an exploration company (ie no income). Look at PDY... still waiting for Midwest rail (may be another 100 yrs).