This announcement explains the recent selldown by one of MHL's directors.
This does not look good for MHL investors, what do you think Brantley?
I wonder how many of the MHL directors have invested in Medina?
A residual participation of only 15% in the tenements on the expenditure of $8m exploration by Medina is a very poor outcome for MHL shareholders given the prospectivity of the area. By way of comparison, CIG gets to retain 20% of its tenements on Santos spending $25 million on exploration.
This is a huge negative in terms of trust for MHL management.
I would expect there will be a need for futher dilution so MHL interest will continue to fall.
loki
MHL Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Held