I can understand why ex shareholders are diappointed but MMN will shortly be back on the market. This company went in to administration for a few reasons:
1. GFC
2. silver price crashed
3. too much debt
4. poor management
5.delay in supply and commissioning of the crushing capacity at the mine, which burnt through the company's cash reserves.
Let me remind you that this company had a market cap of around $200m at it's height. Now the market cap is going to be around $6m with a modest net NSR (net smelter royalty) given to the American debt holders.
A few other salient points:
1. Silver price has gone from around $9 at the time when the co went in to administration to $17 (approx) now
2.The new mining team from the info I have been able to asceratin has spent the last 12 months working on a plan to recommission and to put the mine back in to production. So at $6m market cap for an existing silver mine which should go in to production again in the near future, seems very attractive to me.
3. Check out CCU which has had a nice run...reckon that's a bargain at $16m market cap? It's not even into production.
MMN will back at 10c before too long. All you disgruntled share holders...please sell because I am a buyer !
MMN
macmin silver ltd
