.When Robert McAlister was sacked a week ago I started to have grave concerns for MHM. Will he sue for wrongful dismal, will the contacts he made in China go cold on the product. So I drove to Geelong / Moolap to have a look for myself. Out the front of the plant there is over 1000 bags piled up on top of each other and behind the plant there is a huge pile of bags that are broken and splitting out everywhere.Then I found the site of the ponds which are over 90% full. My concerns are the constant delays, this was all meant to be complete over 2 years ago, maybe the lasts delay is because they have used second hand filter press and part are missing. Then I rang the company and got some answers, but they were very guarded. They sounded upbeat but I have yet to see any Director buy shares. I am also worried about any legal action that MHM may take against the Rogers family etc. And the cost of it to shareholders. Also the Rogers continued ownership over the contracts and IP. Also the EPA pollution ruling that the waste has to be gone by late this year and the multimillion dollar bond that they have with the EPA.I've sold most of my shares earlier this year & just hanging onto a few out of interest. I would love this to all work & become a great Australian environmental invention I just can't see it happen.
MHM Price at posting:
10.0¢ Sentiment: None Disclosure: Held
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