MGT 3.57% 27.0¢ magnetite mines limited.

What a stitch up. Management/Directors/Employees (i.e. the...

  1. 46 Posts.
    lightbulb Created with Sketch. 63
    What a stitch up.

    Management/Directors/Employees (i.e. the people who control and manage the company) underperform, resulting in a cap raise that backs long-term shareholders into a corner to either top up or get diluted, and those controlling/managing the company avoid dilution/extra costs by reducing the cost of their options.

    Understand that this was all arguably outside of management's control (i.e. they didn't do anything in particular to see the share price drop by 70% in the last 18 months, or to drop in price before those 5c 2021 options were to be taken up) - and I still love this company long term - but man this rubs me the wrong way.

    This probably could have been done at a better time, given that none of these options expire for another year.

    Oh well, as long as we're gearing up for our first shipment in 2 years, I guess none of this matters.
 
watchlist Created with Sketch. Add MGT (ASX) to my watchlist
(20min delay)
Last
27.0¢
Change
-0.010(3.57%)
Mkt cap ! $26.57M
Open High Low Value Volume
27.0¢ 28.0¢ 27.0¢ $8.075K 29.81K

Buyers (Bids)

No. Vol. Price($)
1 9259 27.0¢
 

Sellers (Offers)

Price($) Vol. No.
27.5¢ 7020 1
View Market Depth
Last trade - 15.00pm 02/05/2024 (20 minute delay) ?
Last
26.5¢
  Change
-0.010 ( 3.64 %)
Open High Low Volume
27.0¢ 27.5¢ 26.5¢ 13821
Last updated 15.00pm 02/05/2024 ?
MGT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.