I think the directors have proven to shareholders that they dont bow to low prices, a falling market or soured shareholder pressure even. Jumping to bolster an already improved shareprice by riding on the back of recent announcements or releasing a barrage of exciting information, purely for the sake of the shareprice...it isnt efficient and is really not very important to the directors at this time. We are riding the overall market at the moment.
Ultimately, i see the company as being in the foetal stages of its pending sale. There is a long way to go in daily terms, and yet i feel we are nearing the home straight when one maps MAE's discourse thus far. I have faith that the directors will time rapid-fire pants-wetting announcements at the final stages of the sale(this is an assett play based on reserve value which is yet to surprise us).
Shareprice - MAE can go lower i think, but at worst, the low nineties. And that is a low chance, maybe 10% chance. I am more convinced that it will hover between 98-1.18. (That is unless something new is thrown into the mix).
I also think MAE will be fluctuating about 8-10% each day whilever the brokers and advisors have it on the ASX300 Dart Board.
I have topped up my MAE batch twice in the last month.
MAE Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held