'hard manyour next bid is back at .55 ? market likes the...

'hard man

your next bid is back at .55 ? market likes the announcement?'

and that 5.5c bid is about 14 times the current ESI offer of 4/10ths of one cent, but nevermind that.

MNM's SP finished up 10% today on good volume.

2.5 million for sale = about 1% of MNM's total shares. so yes, the market liked the ann carl insofar as the 'market' is measured by the number of sellers, the number of buyers and the MC of a stock from time to time.

the 'market' likes the idea that BM coal is of a higher rank than LV coal. why wouldn't it?

and who are the MNM sellers, the 1% of MNM's holder base who aren't keen to hold? - probably those who loaded up on the recent SPP so they could get the free ops for a trade.

they have no doubt flogged their free ops for about 2c, and are flogging most of their new heads at about the 6c total cost of the new shares and ops, for a nice 30% ST gain.

MNM gets the cash and some MNM holders make a quid - all fine by me carl.

once these positions work through (and I reckon it is 75% done), and MNM anns that Mt M trial date, the 1% looking for the exit will find they have plenty of punters more than happy to take their shares off them at current levels.

I'm still happy to predict 10c+ within 7 days of the Mt M trial date being ann'd.

DYOR