Morning BRI have speculated for some time that the 2 million...

Morning BR

I have speculated for some time that the 2 million capper has been Calcifer playing games to keep the SP low. I have presumed it is in their interests to do so to keep SH's on edge and at management about a lowering SP, etc. Anything to keep MNM unsettled for the past 4 years in relation to the court proceedings re Mt M.

Thinking more on it though, I have 4 possibilities:

1) Likely Theory: Calcifer rec'd their 2 million shares and already sold them. They have changed sol's 3-4 times now in the MtM case and as documented previously, their excuse for delay was legal counsel not releasing the doco's. Legal counsel usually only do this if they are not paid. If Calcifer were short of cash, they would have already sold their 2 million shares at a higher SP. Obviously, if this is the case, 2 million capper is not them.

2) Unlikely Theory: Calcifer did not recieve their 2 million shares and, if so, this could be part of the case against MNM not following through with the deal. Unlikely as a) this is not in the best interests of MNM to do, b) unlike MNM management who seem to play with a straight bat and c) cheaper to give Calcifer 2 million shares than pay legal fees for 4 years (even if Calcifer reneged on the deal).

3) Conspiracy Theory: The 2 million capper is a T20 who for some reason wants SH to believe that they are Calcifer playing games. I can only assume they want to suppress the SP to accumulate heads or maybe oppies.

4) Simple Theory: It's a T20 who needs to sell as they need cash for Chrissie pressies.

Either way, the more I think about it, the less I believe it is Calcifer. Additionally, as per previous HC post some time ago re T20 list issued before recent CR (which I revisited yesterday) - I did not see Calcifer (or any linked entity) in the T20 (or in the 2+ million shares range).

Also, a chartist friend of mine said yesterday that MNM is forming a pinched bolinger band indicating a break out upside similar to the pattern that occured Dec 10 (and we know what happened after that).

The fundamentals have not changed - if anything they are stronger now with the trial date set. The BM exploration is progressing joint funded with Exergen, the JV is progressing (yes - well over the 12 month period, but my info indicates that IK is not worried about this timeline and happy to wait a few more months to make sure it is the right deal for MNM SH's...a few months v 10+ years of business with Exergen - I'm happy to give him a few more months).

For mine, MNM has been holding the 5.5c range or thereabouts on no news for some time and we are 2 months past the CR so most loose hands are probably out. Obviously, putting aside any Euro calamity, I believe we are at the bottom, I have been accumulating more at these levels and believe with the trial date set - blue sky ahead.

Cheers K