chestnuts: the MXP gain is due to a large Placing which has just been announced, to fund an unspecified (at this stage) exploration acquisition. The expression "trying to run before you've even been born" seems to apply to MXP, in my very humblest of all very humble opinions. As you say, the market cap is now huge, they've produced nothing, and they're only AIM anyway. And if the existing asset (on which the company was floated) were as good as was claimed, why bother diluting the existing base with a Placing, which would have to be proportionately stronger in its contribution than the existing asset, because otherwise it would (surely) only bring the average asset value down? What's more, taking on exploration commitments involves paying for drilling, and oilers with no income have to keep going to the investors all the time for fresh funds in such circumstances. For example, First Calgary. It all seems a bit premature, to me, but what do I know? I think I'll stick with me Emeralds! ;-)
imho DYOR etc as always
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