The other question Blackpete is why. Why is it that MNM are doing nothing to try and lift the SP.
No shareholders are going to support this company ( well I am not ) in another CR unless we can see a good reason to support the Co. Going on past performances, no shareholder in their right mind would tip more money in. On the other hand if they made an effort to keep SH informed as to any progress or appointed a Disallowed salesman who can sell ice to the Eskimos, instead of waiting until they receive emails from concerned SH then the situation may be different.
Getting back to why they appear to have chosen this path ( ie to keep the SP low ), yet continue to buy shares themselves, one would think that they have an ulterior motive. What could this motive be ? Will there be a takeover or an amalgamation of some sort? Normally, one would think that in this scenario, the higher the SP the better for us shareholders, including management. Maybe IK and friends know what will happen once Govt decisions are finally approved, but they hadn't counted on copious amounts of red tape over the past 2 years or so. Perhaps they are not intentionally keeping the SP low at all, they are just hopeless communicators who are taking advantage of the SP as it drifts lower and lower.
Personally, I keep buying small amounts of shares as they drift for 2 reasons - management are still buying for some reason and we have potentially shedloads of brown coal which one day could be worth a lot of coin.
MNM Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
