I remember the thread with Woteva very very well not that long ago, all we both said was to take caution with MON as they kept failing to deliver the production and we were both shouted down in a hail of gun fire by Woteva, i think that we both wished him the best and hoped MON could turn it around.
i was a MON shareholder last september and sold at 29c pre reconstruction and took a 1c loss on my shares which was about $3,000. The reason i sold was because of the qauterly report of massive cash burn and the nail in the coffin for me was when MK clearly stated that the Whalhalla pit was a crock yet he insisted on mining the crock pit to keep the mill going, in a nut shell he should have just put all the cash in a pile and burnt it, basically the same outcome was acheived by continuing to mine Walhalla. so i sold out.
I watched very closely to the MON reports as MK was promising 10,000 OZs per month by January 2008, this is very well documented, we all know that didnt happen.
So witout TTY continually propping up MON over the last several months, MON should have been dead several months ago, I feel for the TTY shareholders for having such a dimwit of an MD and dragging them into this mess, TTY was a great company producing ironore and now could face a big loss all because of you know who.
So i agree, i would also like to hear from the almighty "Woteva" who was buying MON all the way down from 50 or 60c.
Live and learn i think is the moral of the story and dont shout people down when they urge some caution.
MON Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
