I can't believe she hasn't smashed through that now Lex.
Maybe the limited liquidity is holding them back, after all, Sea Harvest hold nearly 60%.
And most of those transactions on the ASX now are either algorithmic bots or short term human traders, and both these need high liquidy stocks and rarely touch solid long term growing businesses with rising revenue. They are not interested in fundamentals, just in the casino effect of the market.
Anyway, this is an excellent company, and unique in that it is one of the few that won't need to raise capital if it doesn't want to, in order to buy acquisitions, so there will be almost no dilution. Because Sea Harvest have a war chest of over $120 million dollars and has said that some of it is marked for MTM to buy another acquisition. They said they are looking at businesses who are selling into Asia, or are conducting business in that region. I know Clean Seas is doing this, and have just come back into profit, so I'm wondering !!
These guys at MTM never hurry things either, but when the announcements come they are important.
What did Warren Buffett say... "the market is a vehicle where those with patience take money from those who are inpatient" (or something similar).
Anyway, I've just parked my shares long term, except if they get below 23c, which is when I buy more.
Gw
MTM Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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