I agree with Roy E there does not need to me any manipulation , just look at the total cost to date for Nifty 150 million $ or more and its now on C&M and still requiring cash each month who knows what the rehab liabilities are and if these guys could not make it work why do we think that some one else can and would offer anything to buy it . It needed a much higher cooper price. It was at the bottom end of grade with previous owners mining out all the better areas . It never delivered the tons forecast so it was bound to fail . This is were the value has gone and this is what has driven our losses .
May be the market over reacted to the last announcement but at least we know now the truth and it looks like they will need more cash in the future so more dilution and again a lower share price but again its good to know this and not be lied to and told everything is on track time and time again . It saddens me that the previous directors , all the way back to before the demerger of west gold and metals x , who were responsible for buying this asset and then poring all this money into it are not in some way accountable for these losses , or accountable for disclosure of the worsening situation . What ever happened to continuous discloser ?. All the previous directors have just conveniently resigned with out any accountability
MLX Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
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