MRC 0.00% 2.6¢ mineral commodities ltd

Ann: MRC notice to increase interest in Munglinup Project to 90%, page-36

  1. 8,395 Posts.
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    Hi Gammat mounting debt and consistent breakdowns…What more could go wrong? These disasters keep mounting

    Now we have massive dilution and an $800 thousand dollar payoff…

    In January a they placed a pump sales pitch to offer optimism with an expected sale of proceeds totalling $6.2 million but then 3 months later further diluted the holders and offered a payment of $800,000 dollars…Where has the money all gone…?

    https://hotcopper.com.au/data/attachments/6116/6116693-31eb2528d2851607ed365ec7932c9efa.jpg

    The burn rate appears to be much higher than expected…very disappointing

    A cash raise would be done at low 1 cents range if done now…Wasn’t expecting such a large cash burn in under 3 months

    Regards Croc
    Last edited by Croc-file: 21/04/24
 
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