Yep, very disappointed! I was wrong about Val Tripp I think, she uses the words about turnaround expert herself, not sure she has actually turned around anything. I can’t find anyone that can verify the story. My understanding is she was asked to leave her last job! And I suggest this will be too hard for her, and will leave! She is already on LinkedIn talking about the turnaround! Fails to mention that she was the ceo last year that wrote every assets and stock value down to cause such a loss.
You say that once the sellers are gone the stock will go up, that is crazy. Mro issuer 300,000,000 share to people that have lost 30% already. All the instos apart from Thorney are out, So the selling will over power the buying for at least another year, unless management actually do something?
What happens when mro announces another downgrade this current year, and then announces there debt level, which I understand is over $42million already.
I find that intersting as the capital raise in November had very specific use of funds, It seems like that wasn’t the case at all and all theal funds went to pay back debt with lots of conditions to draw back. I am sure someone will look at that IM at some point and asic will get involved! Very disappointing.
MRG Price at posting:
7.8¢ Sentiment: Sell Disclosure: Held