Ive been in the Top 20 for years. There has been numerous times I could have dumped the holding (ala 20c Sep 20) but I always have kept some in my back pocket as our ground is fertile and this company's potential has never been realised. We flogged off Narndee, we flogged off Canegrass, we flogged off BIH, we flogged off our Adelaide base metals tenements, we flogged off Burbanks, we endured two years of trash from Ruane and Co etc. but we are still here, we still are persevering and we still have compelling targets to drill the f out of.
With a bit of conviction and the drill gods on our side this could be a massive multi bagger. We are on fertile ground, have the cash for the drill program and a good team at the helm.
Only thing I didnt like is the issuing of the new MXROE options for the MXROD Options that were expiring. Obviously the majority of head owners are the owners of the MXRODs hence the 'FOR' votes were always going to get up on the 8th October 2021 General Meeting. Its just essentially an extension to reward the big boys because their options weren't going to be in the money by the expiry date. Yes, 11c per option would give approx. $4million odd if all options are exercised but IMO if the company is that confident in our forward plan, the fact we have Pantoro on board, we already have decent $ in the coffers, either the purchase price of the new options should have been at a higher price or the new options shouldnt have been issued as the MXROEs. The initial OEs were for the GTT crew (if my memory serves me correct) and that was fair. When the ODs were initially issued in April 2020 the share price was around 3-5c hence, the 11c exercise price was fair (multiples of the price at that point in time).
Anyhow, my rant for the day. Watching and waiting patiently and we have an exciting year ahead.
MXR Price at posting:
7.1¢ Sentiment: Buy Disclosure: Held
