It got to .195c on some impressive chomping but the buying could not be sustained - cant blame the skipper on that. Yes, CXM doubled quickly, they were coming off a low market of $41m at 10c, which was completely undervalued. Add in their tight registry & stocks like that can double pretty quickly. They did issue 45m shares at 2c & 45m options at 5c after the market closed on Friday which gives them a fully diluted market cap of $120m. Their options will only net them $1.8m whereas MNB fully diluted market cap is now $105m & our options will net us $15m.
There were some other Fertilizer stocks that did well during the week but it only took 1 seller to kill momentum yesterday with that 1m dump into .165 & .16c
MNB Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
