Been looking at MEY for a while as a possible buy and was...

Been looking at MEY for a while as a possible buy and was waiting to see how the upgraded resource looked, which ticked the box if can get my head around v low grade. and seem to recall the chairman walford being quoted on HC last year saying on roadshows in europe that they would be raising next round of funds at 45c with him expecting a $1 share price. Then we see him selling at 20c after a big increase in resource size.
I looked at the question from an areva perspective if they were sitting across the table from him negotiating either a placement or a takeover, and what would be in their minds. and I see them looking at him as selling at 20c which sets a top end price after the resource upgrade and the market seems to agree now trading at 16c.
Just pretty bad tactics from the chairman, its not as if he even sold shares to exercise options. Also bad tactics to allow areva to get a blocking stake so easily, and probably very bad if MEY let areva get to 19.9% which will totally remove chance of any other counter bidder if areva goes to a hostile bid.
So atm I will not be buying, unless it falls closer to 12c.