Sentiment is terrible in the small cap space. How long that will last is an unknown.
Sentiment and morale is at an all time low in this forum as well. Some that are masking as good Samaritans are taking pleasure at the current situation here. Whether they will be proven correct will depend on Lindsay and Co. and how the Minbos leaders perform in their roles.
In the case of Minbos, I believe the sell off is somewhat justified because of the uncertainty that Lindsay has created. We really have no idea whether a raise will be required and that is causing uncertainty amongst holders.
The majority of investors here are well aware of the risks of investing in small caps. Personally, I thought with the potential projects that Minbos had and the modest amount to raise to construct the phosphate fertilizer plant, this was a terrific risk reward play.
I don't appreciate the posts from Lindsay intimating that the Bank loan was about to be approved, or the video of him smiling about how great the day was when he was meeting with prospective green ammonia partners. It is misleading and will lose face with investors and shareholders.
Will Lindsay surprise us with excellent progress on SWF that will see us through until the bank loan is finalised and announce the start of construction? Or will the next announcement be a capital raise?
Should he disappoint again, I feel that he and the CFO should be replaced with representatives that are more attuned with the intricacies of working in Africa.
MNB Price at posting:
4.3¢ Sentiment: Hold Disclosure: Held
