Haven't been caught out by Sovereign Risk before :-( But this was a high risk stock with the political instability and trible issues in PNG for many years. Buyers have halved, especially as news got out. But I'm betting that 95% of shareholders know nothing about the news broadcast.
I got out at 18c taking a small loss but frustrating considering price MGK was a few days ago. Sitting on a nice profit then.
Think there will be a stack of sellers in the morning, selling "at market", unless news is clarified and things settle down before the open tomorrow. Might be bottom-fishing tomorrow as our Govt gets involved. Actually, if thats the best avenue to take then may go fishing elsewhere.
MGK Price at posting:
1.8¢ Sentiment: ST Sell Disclosure: Not Held