placement - smells fishy

MSC - just announced a placement to raise 2.4 mill - under the vague pretense of working capital to produce kaolin. ( about the same ammount of dollars needed to do the chinese deal recently announced ).

This company has just written to share holders telling them how great everything is .... including thier most latest plans to flush dollars down the dunny by getting involved with a chinese ( totally non related to Kaolin ) rock mining business. In fact they headed the ASX announcement "building minerals business" . Well yes clay bricks, kaolin , rocks , steel , all can be desribed as minerals .... I suppose .

Remember these boys have stuffed up just about everything they have touched so far ...... one must ask the question IF things are going so well -- why are they raising more capital ? Why are they diluting thier efforts by going into China ?

But full marks for being able to continually con dollars out of naive investors .

Watch the progress of this one ........ for sure they will run out of dollars . .......
but Mr Alexander will continue to enjoy nice salaries & benefits as the share price steadily slides into oblivion.