did mak mislead investors?, page-16

I do wonder at the motives of a poster who decides to post a downramp, without any analysis, a couple of minutes before market opens.

In most cases I take the approach of 'follow the money'. There are no shorts on MAK at the moment, so there are a couple of reasons someone might want the price lower

- Minemakers are competing for finance with Legend
- A buyer wants a cheap price and knows that some option holders can potentially handle a 31c s/p to profit on exercise.

The value of outstanding options exercisable is worth maximum A$3.6M to the co, which is considerable but not make or break as they are well financed for immediate operations.

Note the behaviour of Incitec, slightly lower than the $2.50 on a rights issue that is key to their survival. MAK is in a far better financial position than this.