Ann: Entitlement Offer - Results and Shortfall, page-4

Hi Sirrobbo,

How could 70% update from retail occur when the top 6 shareholders hold 71% of the company?
I already advised that MVC wouldn't take part in the offer, he controls 5-10% of MRC,
Retail investors were also going to struggle with taking part in the CR due to the requirements to double their investment.

Anyway, I know when WKT completed a life-saving CR last year, you didn't take part along with many of your T40 shareholders, the company only just raised the minimum amount after breaching the ASX rules.

Personally I am glad MRC didn't raise the funds from a highly dilutive CR to fund the anode pilot plant and a few of the other non critical CAPEX items. MRC should be focusing on getting Tormin back operating in profit, once the inland strands are working at the levels they anticipated, they can use the free cash from the increased profitability to fund these other non-critical expansion items.