MRV 0.00% 0.3¢ moreton resources ltd

the meeting

  1. 1,848 Posts.
    Well guys I know one the shareholders who actually made it to the meeting! He tells me:
    A) the shareholders, quite rightly, weren't there to attend any Board meetings, or confidential discussions etc
    B) that the shareholders who attended weren't allowed to understand exactly what the Directors are going to do, and
    C) the shareholders were encouraged to discuss a range of subjects both positive and negative. In other words there were no areas of discussion to avoid.
    D) that total corporate expenditure was now running at no more than $500,000 per annum. ( I haven't checked recently but that would be pretty low I suspect).

    A a result he tells me he came away with a way better view of the positive nature of the new Board than he had before he attended. Director CV's give certain information, but they don't convey strength of character, or determination to succeed, or depth of a persons background.

    He also tells me that the meeting had also been attended by a well respected sector analyst who gave an excellent view of the current state of the small resources end of the market. A realistic view that was positive in that it highlighted again and again the strategic advantages of the PCI asset now held by MRV.

    The astute amongst MRV's shareholders will know that the future of Kingaroy will simply depend on what provides the best cash flow for the least expenditure. Although not discussed with him, I suspect there are many different options available for the site, and for the equipment on the site. Although a few here will seize upon the 'doubt' as uncertainty, it's a much more realistic and commercially minded view to allow the market to decide its short term fate.

    As a long term holder, I've now got a newly forming positivity towards MRV. I invested originally to see VRB energy storage commercialised, then UCG but frankly watching the way in which renewables have failed in this latest heat wave, I can't help thinking that I should now simply invest on fundamental asset quality. In this regard I'm well placed.
 
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