1. Share price gapped down in several instances based on a number of releases as it was drip fed to the market (permanent loss).
2. CE effectively admitted to defrauding investors and the ATO. The board was satisfied paying back the money to MIN and a charitable donation was remedy enough (maybe it is maybe it isn't will need to be tested in court).
3. The reputational damage caused to MIN is significant, this has resulted in a loss of shareholder value. Chairman and CE could be liable here.
4. More issues could be found in discovery.
Its just another big cloud in an overleveraged cyclical company in a highly uncertain market.
Unbelievable. Blue skys keep finding clouds.
MIN Price at posting:
$23.78 Sentiment: None Disclosure: Held
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