Yeah wow - reading those covenant terms made my eyes water. To top it off the covenant relief is effectively costing a 17% (8.5 + 3.5 + 5) interest rate for 12 months. Basically credit card interest rates. I watch on with interest after having my shareholding value halved. I cant get my head around the amount of cash MCL burn but you have to think the asset value is there somewhere and I want to see it but just cant yet. Interesting image attached which shows the the more revenue they rake in the more losses they make. That has to change for this to be a viable investment.
MCL Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
