RE: Everyone should email the company10 Jul 2023 15:56
Ria, don’t be daft, they know the reason and so do we. Odey Fund is a distressed seller and is offloading. This will become apparent when we eventually get a Tr-1. This offloading will take time and will be a drag on the SP. Same thing happened on Shanta Gold which was around 12p a share but got dragged down to around 9p a share even though the gold price is still above $1,900 an ounce. There hasn’t been a post Odey bounce yet on Shanta but if there is to be one I think it will precede any post Odey bounce on MIRI unless we get an update with some good trading news. MIRI is one to watch but IMO it has further to fall as the Odey offload has only just started. That’s my reading of the situation but DYOR. I’m stuck with a 4.20p ave (ouch) as I got caught out near the top of a pump a couple of months ago so the sooner this recovers (and it should eventually as fundamentals seem strong to me) the better for my financial position, but as ever, patience needed.