Life is not fair but that is no secret (seen many a-holes benefit at the expense of other honest hard working people) and I am a slow learner as I have been burnt badly a few times before myself.
It is true that some of the directors and large shareholders got a better deal than 1 share for every 3.25 held but I see that I have 2 choices and they are:
I don't take up the offer and take a bath on my holding and see a company which should be doing a lot better than it is dying (experienced this before too) and all my money going the way of a few other investments since the GFC, or I take up the offer and hope like hell the BOD aren't just a bunch of chimps and can make money out of this LC find for all who have been long suffering supporters.
There is risk in taking it up and as for me the jury is out on whether the BOD are chimps or not but I know what the result is if I don't take it up. They are not going to tell us if a deal is in the works until after the take up so it is a punt but the alternative is not a feasible option for me and they have a massive potential mine which is currently an asset and liability but a lure.
One positive is there are new holders on the top 20 which means some are seeing value or are willing to take a punt or have a contact or connection. That gives me some hope.
MNC Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
