EosThank you for update on historical facts.I am no expert and...

Eos

Thank you for update on historical facts.

I am no expert and as such can't comment suffice to say that the timing for this righs issue is probably the least favourable as far as the Company's concerned.

I suspect it might have been done in haste.

They probably did not anticipate quite a few things
for example the low nickel prices - high sulphur cost the liquidity problems currently treating the financial world

I suspect with the benefit of the hindsight they would have raised the cash when MRE was trading over five dollars a share.

I also suspect that they genuinely didn't think that they needed cash and injection of capital.

Naturally if one needed more capital this is not the right time.

But be as it may someone's loss is another's gain.

Then maybe some other motives behind a release of such magnitude of shares at this time.

I had a meeting with few executives of MCR and I must say that at least from the point of view of one individual with significant accounting background that Glencore stands to gain significant amount of shares at ridiculously low prices



so this could be the buy of the century or the biggest dod in Ni stocks- my guess is if Glencore already ownes 54% of the Company and they intend to exercise their rights for the balance of their rights issue in reality thinks should then be all that different with one exception and that is the share price.

Either way unless we see some changes in price of nickel I suspect the share price will be depressed.

I am intending to exercise my rights