I have to agree, the only ones disappointed are those short term traders who got burn, more the fool them. MHL has a long term outlook and some nice pieces of dirt with resources in high demand.
Just a side note i am not to sure about GB, there is rather too much ramping commentary for my liking and I think this is detracting away from good dialogue on this stock. Nothing personal GB, just maybe you don't need to be too over the top about things, or do you???
It is a shame no one has any idea who Medina really is so I think a company call is needed. CIG did when because they had a well known Aussie company STO, why i wonder couldn't Monitor do the same and get an Aussie team to JV with them. Sorry maybe I could be wrong and Medina are top notch but no one knows anything about them and this is not good when you are investing in speccies like this.
Big sell off today was due to many factors i feel.
1. Disappointment in 15% JV MHL retains - think market was wanting at the very least 20%, but 15% of what could be there is going to be huge and to free carry it is a huge bonus.
2. Unknown JV private company Medina Group Ltd - who are they and what is their history.
3. Sell on news mentality - this was pre-empted by director selling huge parcel week or so ago.
4. Profit taking - we run from under 3c the from 3c to 6c of course if news isn't to market expectation people are going to take profits and push the price down.
5. Stop losses - and then the cascade of stop losses
6. please add more
Anyway seem to have leveled at old support of 3.5c. News on uranium JV is just around the corner along with the AGM, where i am sure a please explain will be top on the agenda for many.
I suspect tomorrow will bring a little more sanity and we will find consolidation before the AGM at these levels.
Anyway interesting day and just goes to show you, good news does nothing unless it is too market expectation.
MHL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
