The price of MNS will continue to drift lower IMO until the...

The price of MNS will continue to drift lower IMO until the market receives firm guidance (truly price sensitive) with regard to the financing of the Nachu graphite tenement in Tanzania. Between now and then, MNS are likely to have to raise capital to keep the lights on.

Today's announcement IMO was not price sensitive, it was more desperate fluff from a desperate management team that have lost the plot (the Nachu plot). IMO, Top 20 holders would be well advised to immediately call an extraordinary general meeting and move to replace current inept management with one more locally connected and based, that can succesfully transition the Nachu tenement into a mine. If this involves giving away 50% of profits to the government then so be it. Better to have 50% of something than 100% of nothing.

Support at 36 cents to be tested next IMO. 28 cents the final straw.