Pay for my MFL shares in stock or cash?The major producers have generously valued stock and cash, some of the smaller producers have bundles of cash. Who wants MFL? Does a company like Meridian (who released results today) expect to find major projects with cash costs at $78 hidden away in suburban backyards? They aren't out there.
Also interesting their gold book is closed.
"Free cash flows remain the envy of many with cash balances up 32 per cent for the year-to-date at $83.5 million. Like GoldCorp, Meridian's investors may begin to ask questions about what it intends to do with that hoarde. It is averse dividends so a project or two with great returns will be the order of the day.
Also notable this quarter was the early repayment of $9.5 million to close out a syndicated loan led by Standard Bank. As a result, the company is no longer compelled to sell forward any of its production as a guarantee measure and has closed out its gold book."
https://m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B285256AEF000808C6?OpenDocument