Mega has had years to use it's leverage to push their man, RH (an ex-Mega lawyer himself), to develop his project. The results are not good.
Mega buying now might be a good sign, as Mike seems to think, but I'm not so sure.
In the past 5 years we've witnessed the biggest uranium boom in history, with spot price up +300%, sending the share prices of uranium developers like Vimy soaring, delivering 5x..10x..20x multiples for their holders. In the meantime, Mega has seen Toro stagnate, and fall up to -90% in value, and been happy to support RH's decisions that have seen this company rot, and it share price plummet. The juxtaposition of Toro against the rest of the sector, with Mega as one of it's major holders, is staggering.
I don't understand what Mega wants. I would be far happier if it was a company like Sprott increasing it's stake. I am fed up of Mega and their man RH.
TOE Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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