under valued, page-140

Auto, great post. Just to explore these thoughts further, from what I have read there is about $300m available to be deployed (assuming no debt & leaving some cash in the bank) in a new venture. Is that, if and when it happens, likely to be a large cash flow positive/ dividend yielding operation or an exploration operation with future promise but not much in the way of immediate cash flow? I do not know what the company is looking for. I would not expect the SP to jump unless it is the former, but I don't pretend to be know what will or will not trigger what you call a re-rating.

To be honest, one major concern I have with with MGX and GRR (both sitting on large amounts of cash & no debt) is that the substantial shareholders treat the companies as piggy banks, happy to let cash accumulate ad infinitum. This encourages complacency on part of management/board and can exhaust patience of long term holders. Not sure whether that's a problem here and certainly don't know what the solution is. IMHO