I'm certainly mad I entered this at the price that I did (originally around 80c, but I didn't sell out at $1.30 as you did!)
The timing doesn't seem right, given the APAC situation and retirement of Chairman. There is also no explanation for why they need this money. When Nifty reset was announced, the modified debt facility would be sufficient.
A Cap Raise means they are not getting near their objectives anytime soon but intend to pursue Nifty no matter what. I am waiting to see Nifty's AISC in the next quarter, but it seems to me that good money is being thrown away after bad.
MLX Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
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