some help please

I have had MIC in the watchlist for quite some time now and have watched it go down, down, down. Is there anyone on the forum who knows much about this stock ie, from management to their biogold project and its viability? Just when I think its looking like an ok entry on the chart, it moves further down. But, fundamentally it COULD be a dog.

The 715m shares on issue appears to be a big problem. Capital reconstruction maybe, but with biogold moving into production, I would have thought stock on issue wouldnt have been that big a deal.

Thanks in advance

Marchello