Alright, let's look at things a bit objectively.
We, as shareholders, sent management a message - that we believe that they are getting too much of a financial advantage given that MXC has experienced mixed fortunes over the last twelve months. We've had the horror story of the VC agreement that went seriously sour. We've had the successes with Malta, GMP, CannEpil (TGA), several contracts. We are currently involved with a deal to sell the Derma division to a company that will have access to a massive North American market - and a 5 year supply deal which could be extremely lucrative So, a mixed bag for sure.
So, three things.
1) The management was up to "no good". Not really true is it. They made errors and that can't be denied and we have all had a go at them on this forum. Errors are not an intentional thing. Situations may change, errors in judgement can occur, promises can be made by other companies that are not kept - most can be put down to issues outside the control of management - and some should be sheeted home to management as well. Have a look at other HC sites (you can find this in 20 or 30 of them in a short time - almost all have postings condemning management - and just about all of them refer to failed ventures (MXC is not alone in a few clangers) . Guess what, that is business and the similarity in these posts is quite amazing. The personal attacks on dubious reports about management are just that - they are not facts. Until they become facts, they should be ignored.
2) Here is the shocker, the SP is rarely an accurate arbitrator on what is the true value of a company. Investor sentiment can be based on too many things and it is not always based on the fundamentals of a particular company. If it was only based on those, MXC would be at a much higher price and some companies much lower.
3) WhatsApp? Seriously? We all know the dangers of taking literally what is posted on social media sites with anything but a grain of salt. People post things there - we don't know what their personal agenda is for making the posts. I'd rather get my news from more reliable sources. No one should ever base their investment strategies on social media. That is just plain silly.
What I have learnt from probably limited experience with investing is this.
1) NEVER get emotionally attached to your investment.
2) If you don't trust the management of a company then don't invest in that company - or get out if you are an existing investor in that company.
3) Always be prepared to take a hit if you don't think the company will do better - or it will do worse - or if you think the funds will so better elsewhere. There are losses and there are losses that can be justified.
4) Invest to make a profit and don't have rose glasses. Be hard nosed and logical and realistic. All should trump hope alone.
5) Always look at the big picture - don't get bogged down in the weeds or bogged down in the detail.
6) Fear is not a good tool for an investor. Facts will always overrule fiction.
This is why I still own shares in MXC - and have increased my holding since the SP dropped. We know errors have been made and we need to assume that lessons have been learnt as well.
If we just look back at the bad that has occurred and ignore what good things have happened - and lose site of the big picture and what can happen in the future then that is a good way to just get depressed - and the the same situation with any company we invest in. It's just like driving a car - continually looking in the rear vision mirror means you don't know what is coming in the opposite direction.
Originally posted by 28four77
Let's be honest they were up to no good it's all over WhatsApp you would have to be blind to not have seen it ,
but now it's out there they can't hide that, share holders are saying no pay rises or performance share so think about this ,
If they don't sell up next what do you think they need to do "make MGC a power horse that will be huge" the SH have the last vote if they want to be paid more work harder..
(20min delay)