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Metminco to offer 5 shares for every 2 shares, [two days later] Metminco to offer 7 shares for every 2 shares [two days later] Metminco to offer 9.5 shares for every 2 shares. It looks like it's going to 11 shares next week. Why would anyone fall for this given the fact they have spent hundreds of millions of cash, sold their main asset and now there talking about money for a drill program on a tenement I've never heard of and I've been in this share for four years. I keep the shares for the laugh.
Again. Even greater dilution at an even lower price, now at 0.4 I believe. Is it even legal? The next thing will be a dilution. They will need more money. Steer clear.
Scheisse head Howe bites the dust Off with is head
Simon - I was paying even more, beginning about 10 years ago. I remember the day I was so pleased to be able to buy 10 grand sterling worth at 8.5p to bring my by then already shocking average down....I clearly remember this as even the guy who'd tipped them to me asked if I was mad haha, I guess I was.......I lost 10's of thousands on MNC but you know what - every cloud and that - it was a harsh lesson to learn but I learned all the same so although an expensive lesson I'd rather have done without, at least I can try to convince myself I got something out of it.......I still look in as I'd love to see someone (other than the board) making money from this it it rose up,
Revising the revised catastrophic dilution of shareholder value for working capital. Probably suddenly realised they have to comply with some something in the law. How inconvenient. I was buying 10k chunks of this junk at 3,4000 a time. Now you can buy 10k for 110 quid. No more expenses money for them lot.
Not surprised did try to get action from Howe who was scared to meet investors, anyway what ever I have lost here made elsewhere in other investments. Good luck all and there are some great companies this is not one of them and is run by charlatans, Howe has done well been paid like a king but has the mindset of someone out of his depth burning through other people’s money.
Something definitely going down, lanstead screwed the BOD with the ridiculous sharinget deal. Redfeild looked likedown they meant business with apportionment and investment but something changed when the pulled the EGM. Who is on the new BOD is a big question. They should have drilled Tes 10 months ago at least.
Asset stripped and sold on. And there's nothing you can do about it. Your money has been taken. Then done you good. They're all laughing.
An hedge for what??. They have sold their large interest and took a loss. Although they can take their options if need be. But they won�t. Has I said earlier this is a shambles and it as been for quite a while. They had every chance to hit gold, or copper. but he is a utter arschloch.
Ignore last post... Correction,looks like Jesscat,Mooncow and Redfield all under same umbrella.8,534,298 sold at $153,046.25/average 0.017933.Looking at the first rights issue they can then pick up the two year options at 0.013 around 9 million of them,so maybe a hedge. Will have to wait and see what transpires.
They've been transferred to other companies Redfield are involved with.Exactly like Lanstead did earlier. Easy enough to check on the ASX
Now you no why the big drop lol. I have been in the markets for many years!!! I am not sure I have known such a cock up as this company or at least I have not been involved?. I don�t even think it�s crooked it�s just a shambles thankfully I am only in for a few thousand if you was in big you must absolutely livid !,,?! I made a remark has he snuffed it !! Wishful thinking on many people�s parts I would think ??
Why the big drop?
1.3 for as many shares as you can throw at them Never known anything like it in a few years !!
Howe snuffed it ??? They know they won�t get a rights issue away without him taking a step backwards!! This is the last through of the dice ?.? Or have I said that before ..? Doh ,!!
marketing - lots of mug punters - dilution - consolidation - more marketing - mug punters - dilution - consolidation - more marketing - some mug punters - dilution - consolidation - more marketing - few mug punters - dilution - consolidation - more marketing - nobody. Who would be stupid enough to fall for it again? They want us to pay for them to supervise 'a drilling program' - hahahahaha.
no.........
Are you in this one mannnon?
Exactly, fully funded last year and now this
I did get out last autumn, However Simon’s 3 years ought to be at least 6 I think
Is there a worse company - needs salary - spread 100% - Share price down 99% in three years and they delivered nothing!! Where is the Los Calatos money gone?
.
Lot of chat on hotcopper with reconstruction being alluded to
what a crazy markey amazon at 1400 and our aim with little % up sometimes
So glad I dumped this turd. Sold at a 90% loss due to these criminals. Made my money back in vast. Sometimes you just have to stop flogging that dead horse