At least we have clarification and an end to this of sorts! If my quick assessment is correct, AU Mining have agreed to terminate their underwriting agreement and any shortfall will be offered on same terms to other SH. Just hope that sophies don't take it up and subsequently sell so that they can top up to counter the dilution, as happened in my biotech company. So over the manipulation that goes on in penny stocks! As for MRC management and choosing to CR at these levels to clearly pander to the desires of AU Mining to acquire an even bigger chunk of MRC.
The only good thing is that the CEO and one board member have indicated that they will participate to the tune of up to $100k each. Well, they bloody better.
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