Moly Mines (MOL)

[soulman]

This is ridiculous!! Where the F is a capital return? The alleged $65 mil cash or what not......having a chinese investor that is known for crooks behaviour. Han Long execs in court now for fraud.....the SDL drama...etc etc...

Warning signs was there but I was fixated at the cash box trading at a discount, waiting for div/cap return like those at CXM. Obviously the execs job is to prolong their salary/job and not in the interest of shareholders.

Crooks....where is Ron Brierly when you need him.

[Jaa]

Like you soulman I got sucked in by the cash in hand, a classic Ben Graham net-net I thought....

They actually had $AUD76m in cash as at 31 Dec 2014. Add to that the few million they get from UML and from selling Spinifex ridge ($AUD10m+).

After thinking of getting out for a few weeks, I finally did it today. Cash in hand is all good and well but you have to trust the management! Mental note... don't dilly dally when you want to get out!

Where did the possible ASX suspension come from for having disposed of their main business undertakings more than 6 months ago? Is that a real thing? If it is how do shell companies survive on the exchange?