rainfall, page-4

Capitulation soon - agreed. Nice observation there too regarding TRY and SLR, and also thanks for the info on Cobar barely experiencing rain.

To prepare for the worst-case-scenario, I had been reading up about Macmin's (MMN) demise in 2008 and a couple of things that I picked up:

1. On that fateful day in November 2008 when MMN went into administration, it was last traded at 0.04c. One year later, it was resurrected as AYN at 0.01c - it traded up to as high as 0.15c when silver shot to $40+, but then came crashing back down again to 0.02c now.

2. During the last days, MMN attempted a capital raise but the take-up was very poor and because of the bad timing of the global financial crisis, no loans were able to be taken out too as the banks were hit big time as well. So because of being cash-strapped they had no choice but went into administration.

3. MMN was producing silver at cash cost of $22 while the silver price back then crashed to $10.


I hadn't invested in MMN but just by reading up I see that there were similarities and also differences (e.g. No Magma the majority shareholder cum underwriter cum lender ; Stocks and mining going opposite directions this time when last time they were more closely correlated). I guess, in the end it really all boils down to the silver price on whether it can resurrect an ailing junior silver mine or send it down to the dumps.