kraemers return, page-25

Really. So what kind of corporate finance genius would devise the 'strategy' you just outlined in a CR? Or, continue on that train of thought, why didn't the company rewrite the terms of the CR for a 1/5 (max without approval) raising of shares of 2c each with a free option exercisable at 5c? Great news for the loyal share holders right?

HM you are talking as if the terms of the cap raising had no cost, it's all rosy on the outlook, you know just after a slight 30% set-back that's artificial and un-necessary. Look at the market Cap now, the DAMAGE has already been done, for each dollar MNM has lost in Market CAP, they MIGHT get 0.50c raised. Fantastic financial management, text book, all should follow, right????

This reminds me of the carbon tax. Government wants to tax you (CR at a discount to raise money), so that they can give you a cash handout (the free options, funded by the artificial dilution, to lesson the pain). Brilliant!

The only rational explanation is the money in the kittie is somehow tied with JV terms, in which case, the prior announcement re timing of JV was at best mis-leading. Oh, and the person that agreed to such a term deserves to be shot. We are drilling BM now, it does not appear we need the money urgently (original CR is supposed to be done and dusted, look MNM still alive and kicking now and when's revised CR due again?)

Again:

"the obvious thing for MNM to do is hold back the BM exploration JV signing until after the 6c shares and ops get allocated in October. if the MNM share price stays around 6c during the CR period then probably 50%+ of the 32 million new MNM shares and 32 million free 7.5 ops will end up in director hands under the sub u/w deal."

You talk as if the company had the JV sewn up and waiting for a time to release, and the optimal time is after destroying SH value by approximate 2x the amount raised. Total rubbish.

I'm not talking about the potential of the company or what might it eventually become, simply referring to the mis-management that is all too evident now.