capitulation

I have completed capitulated on this stock and have written off MMC as sunk. I entered a couple of years back with an average of 23c have achieved a good 90% plus loss.

I signed up always knowing that MMC is a spec stock and that there would be a more than even chance of losing all of my investment. You have to risk it to get the biscuit. No biscuit here but rather a large s***t sandwich.

The inflation play led me to invest in MMC. Huge amounts of developed Govt money printing would lead to inflation and hard assets such as copper would rise in price.

I was clearly wrong to back this idea and in hindsight I should have leveraged high yield blue chip banks or even Telstra.

Its not all bad, no need to worry about paying capital gains any time soon.

So I could sell but perhaps like Peter Schiff calling the US real estate market in 2007 its just a matter of time before copper has its day. Jr miners are done for this cycle.

They may survive until then however its more than likely the company will run out of cash and slip slowly to sleep.

At this share price, raising capital is now almost impossible.

A take over is not impossible but any company interested in MNC projects simply has to bide its time until they can pick them up dirt cheap from the administrators.

As for management, well they will do what any self interested human would. Keep cashing the checks as long as possible while they line up the next job.

A bit depressing but lets face facts.