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2.6¢ mineral commodities ltd

Ann: Change in substantial holding, page-6

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Croc-file

8,409 Posts.

6922

04/12/23

15:44

Post #: 71260838
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Originally posted by spid81: ↑

Hi Croc

Another good attempt to downramp, but you are barking up the wrong tree again.

AU mining took up all of its entitlements as part of the institutional placement, this occurred a few weeks before the retail placement being completed.

I don't know why you are making such a big deal about the shortfall, The company you are invested in needed to raise $34mil, yet they only reached t50% uptake. I am fairly certain you and your other T40 friends didn't even take part in the "priced to sell" capital raising.

At least Au mining were willing to take up their ~$5mil upfront to give other investors the confidence to take part in the CR, MRC has raised all of the funds they require to pay out its existing debts, gives them working capital, purchase the additional 10% of Skaland and obtain additional inventory for Tormin,

I don't think many will really care about the anode plant, the thrid PCP etc, these can all be funded once they turn around the inland strands and get the MSP plant up and running.

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Hi spid81, what option did they have? They basically had to as the company needed to return to profitability, and repairs were required...

Regards Croc

MRC Price at posting: 2.9¢ Sentiment: None Disclosure: Not Held
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