In consideration for the execution of the Deed of Variation, the Company has agreed to issue Mercer 50,000,000 unlisted options with an exercise price of AUD$0.013 and an expiry date of 30 June 2025 (Options).
MXC is VERY unlikely to be trading in two years’ time, let alone have a share price north of 1.3cent. at 30/06/2025.
Mercer simply agree to extend credit terms and (will) get nothing in return other than a potential tax right off and 50,000,000 shit tickets!
Based on MXC previous track record, they have not come within cooee of an exercise price for any of their previous option attempts. I’m damn sure that feat is well beyond this cruddy mob of carpetbaggers.
Is this the last straw before bankruptcy? Unfortunately I doubt it as these financial conjurers have a deep bag of interesting dollar extracting tricks.
Someone calling for a “Class Action”? ..............Why?
Cost in legal fees – huge (No-one to run it pro-bono)
No positive financial outcome – All shareholders get zip!
ASIC and ASX won’t intervene – toothless tigers.
No-one goes to jail!
Waste of time all round!
MXC Price at posting:
1.1¢ Sentiment: Sell Disclosure: Not Held
