PQ, Agree the business is fundamentally sound. It is concerning some big holders are bailing out. They have obviously done their analysis and MRM no longer suits their risk profile. To the extent they have sold this down to 2009 levels is alarming. I'm not sure this was how this transaction was meant to pan out. I have buy orders in at sub $2.20 to add to my modest holding and reset my position having had significant paper gains wiped out in the space of a few months. I am gutted to be buying at these levels to be honest. I have no intention of participating in the rights issue at $2.40 per share when we are languishing at these levels. It would appear to some investors they got the price wrong by at least 9% given the nature of the acquisition.
MRM Price at posting:
$2.20 Sentiment: LT Buy Disclosure: Held
