just wanted to acknowledge a fantastic post from siameseparrot which started the thread....
his assessment of the chart is 100% correct and after tonights quarterly report, the fundamentals have made it clear why the chart has been so sick...
the company only have enough cash left to support one more quarterly burn like the one we just saw....
undoubtedly a placement/capital raising will be needed sooner rather than later but who would want to support that?
the cash costs of their operations are just way too excessive for the company to be viable in its current format.
i suspect this operation could be salvagable under the right management, but the current team do not seem capable. i would not buy shares in this company.
MUN Price at posting:
19.8¢ Sentiment: Sell Disclosure: Not Held
