The downturn in oil exploration and almost any capex has harmed mrm.
The only guaranteed consequence of that downturn is the need for an uptick in future, and a substantial one.
If mrm are still around to see it, they will do very well.
Or to put it another way, I have no doubt mrm or its descendants will see an oil uptick in the future, but there is no guarantee a current equity holder will still have anything of value.
The management has delayed what I consider a necessary capital raising for a long time, and predatory investors are growing on the register.
While the industry medium term is going to be fine, there still remains a lot of uncertainty for mrm equity holders.
But that is why the sp is 32c instead of $1. Risk and Possible reward.
MRM Price at posting:
32.0¢ Sentiment: None Disclosure: Not Held
