Next business choices Over $50 million in cash and tax loss pools is a great start but they need the right choice of business.
One choice might be acquiring MLR .
Its got $23 million in cash , no debt, $128 million in tax loss pools and, along with its majority shareholder Pala Investments of Switz, own over 51 % of Asian minerals ( ASN ).
ASN is just months away from completing its low-cost nickel/copper mine in Viet Nam that offers $30 to $40 million per year in free cash flows and was recently the subject of a takeover offer by Norilsk.
MLR is currently trading below its cash value of $0.13 per share and perhaps could be had for less than $40 million ( $17 million net of cash ). Together, the new company would have nearly $200 million in forward tax losses to protect future profits along with a strong cash position and a profitable mine about to start production, and the backing of Pala.