The Financial Post reports in its Wednesday edition that Takota Asset Management principal Scott Leckie is an adherent to intrinsic value investing and margin of safety, two concepts pioneered by Benjamin Graham. The Post's Barry Critchley writes that typically Mr. Leckie finds an undervalued situation and gives management time to get the share price closer to intrinsic value. Takota also uses that approach when it buys a shell company where the main asset is cash or near cash and which trades at a substantial discount to that cash. Mr. Leckie is preparing to push that approach with the management and board of Melior Resources at its annual meeting Wednesday in Toronto. Mr. Leckie owns about 15 per cent of Melior. He argues that management has had enough time to find a use for the almost $23-million in cash and near cash held by Melior. Melior trades at about half the value of its cash balances. Mr. Leckie says the universe of possible projects being looked at by "Melior is either lower quality or politically risky." Mr. Leckie believes the best course of action is to wind up the company and distribute the net proceeds to shareholders. The move would stop Melior from wasting its precious resources.