re: Ann: Bank Facility Terms Renegotiated and...
I consider Marion to be an Interest play now... that is, its a play between the financiers to extract money from shareholders - capital raisings.
Its been more about that over the last 4 years than it has been about MAE making a gas play come good.
Be careful, the next raising may very well be around 4 - 5 cents IMO and if so, the share will sit and go nowhere until gas flow promises are achieved. LAst fe months - 15.5 cents down to low 4's and then a promise to raise money at around 7...just as the CEO buys shares at mid 4's.
Talk about disincentive for shareholders.
I feel for those who were convinced to buy when the company asked them to over the last few capital raise campaigns. I was one of them and have learned to overlook their pipedream promises and stick with results based investments. If they ever come good, investing will be logical.
Between now and when it is due, have any of you calculated exaclty how many fresh cubic feet of Gas they need to announce per week in order to make the $5mill repayment? Its not going to happen IMO.
Between now and end of July there are 12 wks...how much gas needs to be sold to make $5mill? Or how diluted will the share be after $5 mill is raised? And how much will go on legals and representation in the US - and anywhere else that is necessary?
Pay heed and live by the math people. Take a lot of caution and expect the worst - this is the best hindsight principle to live by so far with MAE, and i am somewhat qualified as an ex investor to know their record, because once upon a time i was convinced they would come good on fresh promise after fresh promise.
Between now and July, the math should be: Costs * Gasflows * Cap Raise Dilution
And theres nothing rampy about it.
Be diligent and don't favour or follow hollow comments just out of hope. Use math.
L
MAE Price at posting:
5.3¢ Sentiment: ST Buy Disclosure: Not Held
