I think this has really turned the corner in terms of sentiment. 4 or 5 ostensibly really good announcements that move the SP by only small increments, which ultimately fall away very quickly. That tells me the market has lost all respect for the current Board of management. Absolutely no credibility which you can see in the huge number of sellers just wanting to excit. Normally, we would not see this in a well run company after such a flurry of good announcements. My take is that there is no credibility or respect for the current Board and it probably doesn't matter what they say anymore. The market will vote with their feet. I hold great hope that the Board will be burning the candle late into the evenings to try to remedy this situation, but the damage that they have inflicted on this company over the past 2 years is probably irretrievable. You reap what you sow as they say and that's where we are right now. Good luck if they think they can capital raise with this hanging over their heads. Unless something substantial and verifiably honest materialises before June 30, my view is the Options are lost. That loss will materially hurt a lot of investors, but will further errode what small credibility is left in this company. This is just my assessment based on what l have seen. Obviously l hope things turn around dramatically with one million shares at play, but it will take a small miracle to turn the tide of distrust. Only themselves to blame, Erin Resources or whatever you reinvent yourselves as.
MXC Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
