As posted on 9 July & yesterday-
"the short sellers have taken control of this stock MBN. A great ride from 3c last monday to 43 c and back down to 16c today. The top was 43c and talk of 56c was deluded. I am short selling this stock down to 5-8 cents and then the WA shareholders who built this company from nothing and invested $1B and got 2% for their shares from the yanks can all pile in. If the yanks did it to us we can do it to them. The Wa shareholders who lost 98% want revenge and the only way to do it is to short trade this stock to recover the money lost. For those who made a quick buck from 3c-43c congratulations. Its all down hill from here ...I am waiting for the 50M-100M volume at 3-8c to see a bottoming out for 7 days and then start the buying spree all over again."
Der easy money made on this up and down 3c-43c-10c-9.4c. Dropping like power of gravity from der ionosphere wit no end or bottom in sight, buyers disappear like der elusive higgs bosson sub atomic particle. Who said no short sellers, BAH HUMBUG, de yanks have 800M shares to lend out off the OZ books in yankeeland to short sell down, dey doing this now before your eyes. ASX not know what yanks doing from over there.
MBN dropping just like before it went into trading halt, 10c-18c-10c-5c-1.0-1.6c. It is a sharp grinding drop. Yanks now losing on der bonds converted to shares just like dey did to OZ LTHolders who get 2% ie shares need to be $3 for same price recovery for OZ LTH. I laughed at on my posts at 30c, 16c but now MBN at 9.5c and dropping like power of gravity at 9.8mpersecond and cannot stop power of gravity, many tried but failed, der normal distribution graph is mathematical certainty
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ it never wrong, what go up eventually go down due to universal equilibrium like found in der radiowaves travelling in the ionosphere.
My $20k now worth $400, i buy again when it hit bottom 3c-8c maybe now looking more closer to 3c or 5c as postulated by others. Must go lower to bottom before it can rebound as no one can put this into administration again as yankees have no debt owed anymore, convertible notes dont come due for 4 years and no debt otherwise. Dem yankees should not have taken out the OZ holders like that, when listed on ASX der OZ holders are having their revenge right now as yankee shares now worthless, their debt of $400MUS now worth less than $50M on current MC.
Der MBN report was terrible, lower grades, higher capex, higher costs, higher loss, much lower production but dis is expected due to administration and uncertaintly, now management must turn it around dis QRT Sept14 or it collapse to 1c. I postulate wait for clear bottom pattern at 3c-5c.
MBN Price at posting:
9.6¢ Sentiment: Sell Disclosure: Held
