looks as if the rush to get out and sell is becoming a stampede. walls of heavy selling lining up to get out. this is embarrassing. with a recent independent valuation report of upwards of 20c a share plus some great announcements since the share price is a paltry 2.8c. the cap raising at 3.5c looks to be becoming a dream. how does the company expect to do another raising at 7.5c when they cant even find buyers to take out the walls of sellers at 3.5c and below. with still many millions to sell just on screen and a distinct lack of buying what chance is the cap raising to succeed. mr sealy has done a fantastic job operationally in a short period but looks to be being let down badly by whomever should be organising some much needed buying support if the story and turn around is real. there are now many many sellers on the screen indicating they believe its not. perhaps its time to sell the company to a major u.s or Asain player at well below the indpenedent report price as it seems that their is no interest from anyone else judging by the serious lack of buying support.
MIK Price at posting:
2.8¢ Sentiment: None Disclosure: Held
