This company has made a habit of mismanaging a series of companies, Westgold Aron etc so they can take them over for peanuts. How long since the find in the Northern Territory Rover etc? They have pretty much sat on their hands till the share price just got lower and lower. They have continued this process and now their belovered, MLX is unloved I wonder why.
There is a limit as to how long you can drop poop on people.
My belief is someone will now take MLX over because, well who would lend these people money with their history of wealth destruction.
They obviously believe that if you get enough assets and then do nothing people will work the price down and when it is really low take the company over. Then keep repeating this process. Today everything went up and this one went down.
I think they have worn out their welcome. Problem is, do they have another company in the wings to do the take over or are they going to fall foul of their own foul scheme.
What are they actually doing?
MLX Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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