MXO 9.09% 12.0¢ motio ltd

MXO Sale of Asahan interest by EEX Corporation

  1. 27 Posts.
    Seems EEX has just announced an intented sale of its 15% Asahan interest for "less than US$1 million".

    That puts a value of US$5 million on MXO 's 75%. That works out at about 2.2cents (A$) per each of MXO's 420 million shares on issue. It also means that if MXO tries to farm out any interest in Asahan there is already a recent benchmark price for any farm out. Looks a bit thin to me.

    see http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=EEX&script=410&layout=9&item_id=286351
 
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