the capper's gone?, page-3

Kranky,

That "Working capital" was probably the fee that Cygnet Capital were to receive below (which works out at the about the same as 2 million @6 cents)

a) a 5% capital raising fee (being $97,940.35 plus GST);
(b) a management fee of $30,000 (plus GST); and
(c) a total of 12,000,000 options, to be issued to the Underwriter or its
nominee, exercisable at 7.5 cents on or before 1 December 2013.

Details of this should be provided in he upcoming quarterly report (i think)



Regarding the options trading,

Currently 41,313,450 MNMOA options listed.

We have had 24,875,874 traded on the market since 30th October.

16,749,400 were traded before the price spike on he 23rd and during that time the distribution was very even with around 2 Million traded every week.

Looking at these numbers, i think the underwriter has let go of the majority of their options. However there is someone on the buyside accumulating.

From reading this action, IMO I don't think its traders, but long term holders who may be leveraging into the stock with the intentions of excercising the option over the coming year. If I had the deep pockets and was going large this stock, i would be picking up as much options as possible, as i do no believe you need to issue a Substantial holding notice. Makes it a little easier to go under the radar
But having said that its a traders market and you never know what peoples intentions are.