Ann: Placement of $10m Closed Significantly Oversubscribed, page-53

Unlikely that the SP will fall to 6.5c or below:
1. When you go on the market asking for 10m no one is interested unless you offer stock at a discount...and it was by 25% odd. Not that unreasonable for that amount of money and that amount of risk
2. There is now $13 odd mil sitting in assets. Some of that will be used for first class travel a lot of Champaign and some more "success cash bonus's" especially for BM who engineered and capitalized on the speculation.
3. The board has a wealth of knowledge on MM, growing conditions and extraction of CBD oil methodology, or at least we hope they have and are not being used by BM to increase his own wealth at punters expense. ie token directors.
4. Looking at AC8 since when this madness started they can provide a guideline as to the potential valuation that MXC could rise to based on todays SP. My calcs show around 8.3c, but if MXC can be believed they are in a better position wrt future cash flows from cosmetics and their relatively comparitive cash position.
5. We don't have any ANN wrt import license yet. The market is assuming that this will be a formality!
6. No authority to grow MM in Aussy so far but the market is assuming that this will also be a formality or rubber stamp.

To fall below 6.5c there would need to be a complete loss of faith in the whole industry for whatever reason.