Firstly the meeting was presented somewhat sloppily and was not as professional as others I have attended. That said there was significant comment made by MD concerning the recent Fat prophets report that caused such an upheaval to the share price. Principally that there has been a recent change in analyst that covers Mundo at FP as the original one has moved on to start his own newsletter and is still supportive of Mundo. His replacement, who was the architect of the sell message, made his decision without contacting the Company who were therefore unable to correct some inaccuracies he was making. It is my opinion that the whole issue is a wake up call to the Company and they now appear determined to rectify the production shortfall and quote 40000 oz for year 2010, and 50000 for 2011 for Engenho. Collectively the board maintain they hold 12% of total shares and the MD has even mortgaged his house to put more money to the project. They appear to be happy that the convertible note will enable them to overcome short term difficulties. Geraldo
MUN Price at posting:
28.7¢ Sentiment: Hold Disclosure: Held
