Ann: Company Update, page-10

IMO the share price will be capped now. I have seen these finance deals many times before. Shares are issued at a discount and then sold on market. That cash is then lent back to the company and so on and so forth.

Acuity Capital may only be lending $400k which is recycled many times over.

There was talk earlier in the year from Cygnet about obtaining finance from the mill. Obviously not going to happen for whatever reason. Looks like Cygnet are no longer raising funds for MNE and have left the building. A cap raising would have been much better imo to clear the air.