fortrend, page-2

I agree with some of your comments Navy, others maybe not so much.

Hindsight is always 20/20. Perhaps the board genuinely thought/felt that Fortrend's nominee would hold. Perhaps they should have known better.

A couple of months into the drawdowns and it's become obvious to all and sundry what Citicorp are doing. Hence the turn to SIs I think.

Raising capital isn't easy. Lenders and equity investors in this market (whoever they might be) want good terms and quick returns to lower their risk.

Obviously MNM has a history of difficult capital raisings and whichever approach is used, there are shareholder outcries.

But rest assured no supperannuation fund will be looking at MNM - they don't deal in the spec end of the market, they deal in ASX200 companies or higher.

I think an approaching issue is that alot of the supply of late has been soaked up by, in particular, 2 current Top3 holders who are rapidly approaching the 5% holding mark. And I doubt that they'll want to go over that amount (and thus become significant holders) so that they can conceal (at least for a little while) when they start to offload when the SP moves.

Plenty of theories of course, none of us really know the truth. We get told what we get told when we told it.

Some immediate next steps/plans will hopefully be detailed in the Quarterly, along with an appreciation of current cash levels, so we'll know more then I suppose.