Guys I see the bigger picture, and am very patient knowing what is to come in the next 6-24 months, but the larger the portfolio the bigger the $ swing on a cent change in price. By my calcs 5-10Mill of shares will have a dollar variance larger than the annual Aussie wage (although I personally believe the $67k is understated). I dont have that size portfolio but whenever I look at my portfolio status and I see a big swing I have automatically assumed something small (1c- close to the value I bought in at) has happened to MEI.
But with drill results, further announcements regarding progress to mining and clarity around licenses, EPC proposal and award, all in the foreseeable future means there is a lot of positive news and information coming.
Someone early mentioned that the price may be artificially being manipulated or deflated- that could be the case. My reasoning is that if a capital raising or “partner” is required for the development of the mine- say $300M- that is about a third of the company. Somebody with such a large stake may be able to persuade a takeover or merger, by continuing to buy up small parcels till they can be a bit more aggressive.Something if the price per share is not right I would not want to see other than an equity merger into an existing first tier mining company.
Thoughts?
MEI Price at posting:
26.8¢ Sentiment: Buy Disclosure: Held
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