MRC

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2.6¢ mineral commodities ltd

Ann: Proposed Issue of Securities - Updated, page-34

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sirrobbo

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17/11/23

19:58

Post #: 70971319
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Originally posted by spid81 ↑

Hi Gammat,

The liquidity issues is mainly caused by the ownership of the major shares.

As you can see 76% of the company is held by 6 shareholders. Simto Resources is the former CEO's shares. Have you seen a company where 6 shareholders own so much of a company? I cannot say I have ever seen anything like this before.

The main issues with MRC is a lack of marketing, I don't think MRC has really bothered with marketing while MVC was selling his shares. Although it doesn't appear he has sold a single shares for a number of months, which might explain why Scott has now started marketing.

The other issues is evident with the mineral sands project, it has had issues processing the inland strands mineralisation, which recommenced in March 2023. MRC has clearly stated the issues they have had over the past 6 months, with break downs and the water inlet issues (Sea water is used for processing). MRC detailed they have resolved these issues and are looking/have made the improvement to give a more consistent water supply.

The other issues have been the many legal issues, MRC did own 90% of the Skaland Graphite project, They have now moved to 100% ownership and ended the legal issue.
MVC took MRC to to the take over panel for the last CR, which stopped AU mining being the underwriter to take up the short fall. This was a major mistake by MVC as the company is now raising the funds they requred back then at a ~50% discount.

Anyway. I hope that helps you out with understanding the share structure and the reasons why there are so few retails shareholders involved to increase the interest in the company.

BTW, around 50% of the company is owned by AU Mining and his exwife. When you see him investing $5mil up front for the CR you can understand why I have no concerns with the lack of interest from retail investors.

Expand

Yeah, it would suck to have a holding here then. I feel sorry for the holders that are trapped in this one and will have no power or say.

Ah well put it in the bottom drawer and have a look in a few years. The big boys are rarely short term.

Good luck.

MRC Price at posting: 3.3¢ Sentiment: None Disclosure: Not Held
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Last 2.6¢		Change 0.000(0.00%)		Mkt cap ! $25.59M

Open	High	Low	Value	Volume
2.6¢	2.6¢	2.6¢	$3.4K	130.7K

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No.	Vol.	Price($)
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1	36880	0.016

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0.024	52275	1
0.027	60000	1
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0.029	100000	1
0.030	11643	1

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Ann: Proposed Issue of Securities - Updated, page-34

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

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ASX Market Open: ASX200 to rise for Friday session | July 26

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

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Ann: Proposed Issue of Securities - Updated, page-34

Top Stories

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

ASX Market Open: ASX200 to rise for Friday session | July 26

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Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

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Nine's staff strike as Paris Olympic coverage begins

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Featured News

Buyers (Bids)

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