Recent content by Warpspeed

No, just a retired engineer on a pension.

We are all still here..... The way I see it, MCO is a very small company with a huge task ahead of it, and patience is required. It is likely that some investors expected a sustained and continuous upward trajectory in share price, and have become disillusioned when other market segments...

Your share entitlement is one new AYN share for every twenty original MMN shares. So if you had say twenty MMN shares that you paid fifteen cents for, your three dollar investment in Macmin is now worth about four cents, and falling. The share base has exploded upwards from around 230...

I have yet to crunch the numbers, but I will when I have some time. I guess the big issue is how much are they going to dilute the shares? In other words, how much of Macmin will be left for us shareholders after the syndicate has bitten off for itself a massive slice of the company...

O/k, by now most of us will have received a notice of the General Meeting from the Administrator, and details of the proposal to take over Macmin by "the syndicate". I have only very quickly skimmed through it all so far, and have not yet decided if this offer will fly.. Anyone here care...

A new progress report for Macmin Silver, out now, http://www.macmin.com.au/announcements/2008/index.htm#May2008 .

Yes, silver is doing great, but..... Macmin have effectively capped the share price with this new entitlements offer at least until the end of January. Not many existing MMN shareholders are going to pay much more than twenty cents for Macmin now, until this entitlement offer closes.

As long as they can hold their own at this stage and cover cash costs, and not dilute the shares any more. All we need to do now is wait. Eventually silver will pass $20, $30, who knows.... Income will rise steeply once silver slips from the manipulators grasp, without having to scale up...

Wooo Hooo full steam ahead then. I guess we shall see what the market thinks about all this tomorrow.

One possibility is that FNT could leave the shares halted for a while, and notify option holders of an extension in the option expiry date. That would take the heat off.