MNB finished up just 4.17% today but today's announcement reduces the need to dilute the stock with another large cr and less dilution gives us a higher long term sp target and it means no cr fear overhang on the sp to slow the short term sp outlook. The US$10mill saved is equivalent to A$14.6mill and if that had to be raised as a cr, it would have diluted the stock by around 15% or more depending on the price. This month's VWAP was around 12.5c so the sp could easily go up 15% from that price to 14.5c over the next few days based only on today's news. The Green Ammonia study outcome certainly has very high potential to add much, much more value again.
MNB Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
