Some of you guys were right (Nicolee, Jupiter), this company...

Some of you guys were right (Nicolee, Jupiter), this company seems to have had a director who has a history of mismanagement.

From my research and conversations with some shareholders, this non-executive director was a big influence with decisions and the general direction of the company. He was associated with the failed Newtel

Looking back at the announcements back in March, MUI put money into in that CAMI Chinese project which appears to be associated with him. I believe share holders and the board lost confidence in him and ultimately voted him off in November last year.


The other current directors seem to be very green at this game as they are both first timers at the public company level.
Since the restructure of the board in November the company seems to have turned around and found itself a substantial gold project in Indonesia with the share price rising above 0.02 , closing today at .022.
Maybe these guys have now got their act together.

I do not agree with valuing any spec company on the capital structure at face value as the market cap on spec stock can vary significantly from a tick. Imagine being able to buy FMG prior to its recap level at around 10c a share.

If this gold project does stack up and they get some experienced people on the board to run the Company, this could be a mid cap stock, making MUI pretty cheap on its current valuations.

Ill be watching it cautiously.

Disclaimer: I hold MUI and added when it broke out on volume last week.