What MXR shareholders in general have got to hope is that enough shareholders take part in the SPP to raise the intended total so that the intended drilling activity takes place.
Now it is obviously a close run thing.
If the SPP is supported to the point where all or nearly all the $1.5 million is raised then that will provide a bit of a boost to the company profile and image. The drilling will take place and beneficial results could flow from that once the results come out.
If the SPP is just partially supported and MXR is left hamstrung with not sufficient funds to undertake the intended programme then where to then ? Is there a Plan B if that happens ?
If MXR is hamstrung then the share price is likely to droop. Unless there is a plan B.
My guess is that they will have thought that out and will have some contingency plan in place if they don't reach their target total. It may depend on what level they doo achieve if they fall short. At least I would hope that they have thought things through to that point.
The ring arounds are probably an attempt to guage the likely response they might get.
I can only hope that there is sufficient support to raise the amount desired.
MXR Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
