When does the option on Trinidad expire? It must be time sensitive?
I must admit when I saw yesterdays announcement my jaw dropped a bit. My first glance I thought the "trinidad option has expired", meaning they had failed in their attempt to raise funds.
Obviously hand was called to early in July, when news first broke. But they had little choice once another asx listed entity bought 10%.
6 months later...no progress.
Had their hands forced again in November when shares started trading suspiciously. Rising sp and high volume. Both good things. Who knows what price we could have raised at if we continued trading with the speculation mounting.
Instead they opt for trading halt. With no intention of coming out of it. Then extend into a suspension. Now just string everyone along.
The lack of news is concerning. The seemingly lack of direction more so.
They have a great idea. But do they have a great plan?
I havent lost faith in Trinidad. Its solid investment now with excellent future potential.
I havent lost faith or confidence that MHL will pull something together. But I am disappointed in the way MHL have approached the deal and treated shareholders.
If the deal fell through in August or September 2010, I think MHL would have had an alternative option. Our other prospects are enough to get a small cr to stay afloat.
But with each passing day our cash goes down and we get backed into a corner.
MHL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
