re: doomsayers way off the mark Steve50,
With all due respect you have no idea whatsoever of the truly dire financial state of MSC.
Anyone with a basic understanding of how to read a financial report can see that net cashflows from operating activities has been NEGATIVE $12m for the past two years. This equates to $1m per month not $500,000 as you wrongly stated.
There is no way they will raise $7m. I anticipate around $5m will be raised, plus $4m from Cominco and if the are lucky $5m from CCG. That gives them $14m less around $3m for the debenture redemption, so all up $11m to play with.
This is assuming a best case scenario in that they are able to quickly sell their stake in Cominco and that CCG is able to be quickly floated.
Don't forget MSC has owned CCG for some time now and it is unlikely they will realise its value within the next 6 months.
So in my opinion there are two scenarios:
1. CCG and Cominco are sold within 6 months - this would give MSC $11m including the rights issue and buy them 12 months or so to do something with Skardon & Swan before hvaing to raise further equity.
2. CCG and Cominco are not sold within 6 months - this woud give MSC only around $3m - $4m and buy them only 4-6 months before having to raise further equity.
Steve50 - before calling me and others gutless maybe you should spend the time to do some actual research before making misleading statements on this forum. I do not know how you calculated that MSC has 28 months to get sales going.
alanb - its good to see that there is another rational person on this forum.
If you guys want to make some money quickly buy AGS - check out this link: http://www.allianceresources.com.au/docume...9%20Low_Res.pdf
Please do your own research, this is my opinion only.
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