suspension from official quotation

APPOINTMENT OF VOLUNTARY ADMINISTRATORS

Macmin Silver Ltd
SUSPENSION FROM OFFICIAL QUOTATION

This is one of those sad stories where many were sucked in by ramping company presentations. Couldn’t see clearly and stayed at the party far too long after the last drink bell had rung. Now is the time to nurse the hangover.

Many warning signs were published here on HC and elsewhere.
But the replies, those that are printable, kept calling out about the only ‘pure silver play in OZ’. Get onboard Ag will jump etc etc.
The ongoing downtrend on the chart was a clear sign to get out.
The financial pain in the balance sheet was another.

Well, Ag may jump one day, but what’s so good about that if you can’t trade the company you invested in. That is if MMN would ever follow Ag on the way up. The lack of business acumen and apparently also lacking the skills to understand and manage the process from explorer to producer has brought this company on its knees.
Over the years there have been substantial waste of money by this company on irrelevant other business ventures with little synergy to the core business. Go back to the mid/late 90’s and look at what they did.

Hope the administrators can get the show on the road now the McNeil’s are taking a backseat. Recently, when driving past the Texas mine, it was noticed how many cars were parked there. Clearly, should it develop to total closure of the Texas mine, this will have a serve impact on job opportunities in an area where only few jobs available.

Good luck to MMN holders

All eyes on other Mc Neil ventures – FNT, COY and NNG.V
Are there more where this family is at the helm ???


PS. For you to read and judge the spin some of those McNeil announcement can bring to market.

27th October 2008 ASX Code: FNT
DIRECTOR MR CES IEWAGO RESIGNS
Frontier Resources Ltd announces that Director Mr Ces Iewago has today resigned from the Board of Directors for personal and family reasons.
P.A.McNeil, M.Sc.
MANAGING DIRECTOR
[Mr Bob McNeil (Chairman)]

Resigned for personal reason, but not more than the same director could take up another McNeil appointment the following week !!!!!

3rd November 2008 ASX Code: COY
CES IEWAGO APPOINTED DIRECTOR
Coppermoly has appointed Mr Ces Iewago as a Non Executive Director of Coppermoly Ltd, effective 1st November 2008.
R.D. McNeil
CHAIRMAN