Hi Lexie, I have to agree that MNM have stuffed up big time with regards to Fortrend and raising cash IMO......
I was angry they never did a placement when the sentiment was good and SP was flying closer to 15 cents...seems the MNM timing has not been great BUT I am also unsure of all the circumstances....
I assume that MNM had looked at other avenues before using Fortrend unless they specifically needed a large facility for another reason?
all and all I agree about the fortrend selling and over supply, no surprise the SP is low like you said...
On a positive note, Fortrend most likely have less than 4 million left which is not much. fortrend dont have the same motivation to sell as they did. MNm has cash in the bank and financing secured if needed/desperate...
I think this is bottom/oversold....I was loaded up and caught holding lots of MNM from over 10 cents so could not benefit much from the lower SP but thats the market for you,,,,some decisions are good others are bad,,,
MNM Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
