Be very careful if you are seeking to trade this one IMO.
Todays announcement, price sensitive apparently is nothing more than a rehash of a previous announcement which was seemingly slammed by the market 9 days ago.
Before that announcement the SP was around 2c. It dropped within 9 days to .09c. Reason? Their third recent attempt at a mining venture and a massive placement of shares issued well below market price. 210 million issued at .0001c. There are still another 210 million options to be converted at the same price. Money raised for the company is just $42k.
The surge in activity over the last month should be noted. I am not the only one watching the trading closely.
A high degree of caution is required here. Many holders are likely to have been burnt in recent weeks by the recent fall.
If the deal for coal was to go ahead, you can expect close to 2 billion more shares to be issued for the acquisition. As it is there will soon be over 1 billion on issue here already.
MUI Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held
