If those extra 5mn OAs work their way into the market asap I...

If those extra 5mn OAs work their way into the market asap I will be very pleased to see some more liquidity in the options.

Currently almost all OA holders are not selling and the lack of liquidity is holding back the OA price.

MNMOA should be at a substantial premium bearing in mind all the news we are expecting over the next 4 weeks or so and taking into account they mature in December 2013 - almost 2 years away. The time premium alone is worth a couple of cents.

Even with the new 5mn OAs there will still be only about 51mn in issue which isn't many but it is better than 46mn.

If today's buyer of the 10mn heads had been able to buy in the market then we would not have seen the extra cash hit MNM's balance sheet and raising cash in small placemnets under the 15% rule is completely normal for ASX stocks.

I see today's action as extremely positive with strong volume, buyers prepared to step up and pay ever higher prices. More cash on the balance sheet, more options to increase liquidity. Today's action ensuring that MNM & MNMOA are on a lot more watchlists should imo put us in a strong position for further gains over the next couple of days.

I would be amazed if we were not back knocking on the door of 20c before the weekend.

I am Sydney minus 9 hours, I finally went to sleep aboout 3am with the SP at 17c - so I was understandably a bit miffed to wake up a few hours later and see the SP back to 14c on news of a placement.

Having now considered the placement, price, attached options and today's action I can see nothing but positives from the corporate and trading activity that transpired in MNM today.

EB