MLI needs capital to extract the minerals. It was always going to be a staged capital raising. However, the financial tsunami sunk the SP and made capital raising difficult without a massive capital dilution. Loans, even by the bluest of blue chips, were almost impossible.
The fact is, MLI has no capital to extract the resource. If the SP goes to 50c, then capital raising is possible. If you were DRD, would you want MLI's SP to hit that high, and get out of jail free? White knight is the only way out for MLI. Can't see any on the horizon.
The only thing a shareholder can do is to put on the sackcloth and fast!
someone pls give me a reason to hold, page-7
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Last
1.4¢ |
Change
-0.001(6.67%) |
Mkt cap ! $18.52M | |||
| Open | High | Low | Value | Volume |
| 1.5¢ | 1.5¢ | 1.4¢ | $17.68K | 1.191M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 4429832 | 1.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.5¢ | 1822392 | 4 |
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| Last trade - 13.18pm 16/08/2024 (20 minute delay) ? |
| LRL (ASX) Chart |