vertigo - I think you'll find the gold price is irrelevant to MNM. At this rate of dilution the company will have gone down the toilet long before they ever have any gold concentrate to sell. I'd be very surprised if many of the holders who have been burned before want to chip in more, but hey......go for your life !
How did it come to this? A company that was going to change the world via brown coal now reduced to scraping together a few bucks to try and get a crappy little goldmine into production. Just like everything else MNM has ever attempted (anyone here old enough to remember the phosphate debacle years ago?), I still suspect they'll find some way to stuff it up.
Effectively we now have IK tapping his mates in the pub trying to borrow a few bucks so he can buy a shovel.
If he did anything to actually promote the company, in all likelihood we would have been able to raise money at a higher SP and on better terms. I've read all the posts from people who have spoken to the guy - and I'm sure he comes across as a good bloke, genuine, enthusiastic, etc. - but has it occurred to anyone that he could just be totally incompetent?
MNM Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
