What is the point of this announcement? I think there are two points. The first point is to stop the SP from free falling. The second point, I believe, is to give any interested investor(s) the impression that there are many interested parties looking at investing in Magnis and also as a JV partner in Nachu, in an effort to drive up the price of a stake in Magnis or Nachu and perhaps to even try to speed up their decision to invest. It would seem to me by this announcement that Magnis has put interested parties on the clock as they want an investment by the end of the month.
MNS Price at posting:
32.0¢ Sentiment: None Disclosure: Not Held
(20min delay)