There is a point that many of us will be aware of but that is not often voiced.
Most of us who invested in the story of MYL, back in Myanmar days and in Tasmanian times, are not super wealthy elites. Many of us are retirees trying to self fund as much as possible and trying to promote good values. In Myanmar, I for one , believed we were helping a population overcome decades of grotesque military rule and assisting by funding a mine so they could enter the 21st century via Bawdwin...which is still a great asset sitting there and no doubt degrading while they chip a few bucks off around the edges. Yes, we hoped to make money but we were not stripping the wealth of some group. Many countries and multinationals had similar views at the time. Even though it turns out we were wrong about the potential for Myanmar (sadly), we were not alone.
In Tasmania, we thought we were pouring more serious dollars into developing a green nickel mine. Save the planet while making a few dollars to feed our selves. Turns out we poured the serious dollars in while Hartree got a paid ride and took all the cream. Now they are coming for the assets as well. I know there are workers and communities impacted as well but there is a large group of self funding retirees and small investors, you and I , who are the larger meal here. We have repeatedly put money in to capital raisings, helped fund the show this far but are now being excised and offered sweet F all.
It needs to be said.
MYL Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
