It is the shorters who are interested in MNC as recent short selling activity shows:
15/11/2012 Total shares traded: 4,878,200
15/11/2012 Gross shares sold short: 1,358,285
16/11/2012 Total shares traded: 2,564,200
16/11/2012 Gross shares sold short: 451,697
21/11/2012 Total shares traded: 1,758,900
21/11/2012 Gross shares sold short: 286,300
Much higher short volumes than usual.
Similar thing happened about a year ago:
http://hotcopper.com.au/post_threadview.asp?fid=1&tid=1606319&msgno=7431224#7431224
I guess someone is speculating on a capital raising again. This time management have been clear they do not plan to go to capital markets for funds (despite attending a number of conferences).
The shorters have managed to have the share price drop by 17.8% and I believe they are now trying to cover at between 5.8 and 6.0c
Well, I added 100,000 shares at 6.1c on Tuesday as this company is certainly worth more than the share price would make you believe.
Alejandro
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DYOR, This is not investment advice
STO, BDR, HCH, MNC
good bot, page-6
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