re: rights issue - mcneil's selling down Beechmere, you are making a point. Now spin the coin and look at it this way.
Perhaps a good deal of MMN holders took up the 14c offer just for the free option. Sell at 15c? Yes, you are right no profits worth talking about, but you are now sitting with a free option with a 4 year life span at a 1:1 ratio – a good exposure at no cost!
Many long suffering holders are not looking for additional financial exposure to MMN. An indication of this is the fact that the offer closed with a shortfall.
Some holders may also see guidance in the fact that the Chairman led the way by being a net seller.
MMN
macmin silver ltd
