You are probably right, however the sp is bouncing back and the directors did not take up the oppies because they are way out of the money (in fact it would be cheaper to buy MAE on market).
In addition, there is more than a 50/50 chance that they will get refinance (IMO), so a close at or near the open sp is on the cards, IMO.
Still, that's what "trading" is all about, you take the risks and you get the rewards if it goes well or buy a few beers and drown you sorrows if it goes belly up...
News just in, MAE have an extension to their finance and an increase of US$6m added, so they have cash, but the extension is only until September 2009...
MAE Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
