Yes i increased my holdings on the basis that a decision would be announced re the NMDC joint venture for the Wonarah project. The MOU has now expired with NMDC and they are now asking for an extension of probably 2-3 months as they state they are still carrying out Due Dilligence? We have been advised by Andrew Drummond that discussions are being held with other potential joint venture partners however after all previous promises have failed to materialize i am having difficulty accepting anymore the companies spin re the financing of Wonarah. I also find it difficult to accept that after 8 months NMDC have the gall to state they need a further 2-3 months to complete their due dilligence, this does not ring true with me. Other forces are at play here and as usual we the shareholders are left in the dark! The shareholders also still have not had an update from Andrew re the extension request from NMDC, but have had to rely on HC posters and the Indian Business press to be advised of this situation!!! There would be very few MAK shareholders that are in front with their investments, most, me included are all out of pocket due to having in the past accepted the companies story re Wonarah. It is also interesting to note the significant decline in the holding percentages of the companies top 20 holders over the past few years and not one of the directors have increased their holdings during this period???
AEV Price at posting:
29.5¢ Sentiment: Sell Disclosure: Held
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