Agree, not sure if you made a good move there by selling out now. It has been months since MHL had this kind of volume from buying pressure, which is mainly due to the acquisition coming up I presume. Been told to buy this one from a very reliable source, who also tipped me into VIL at 2c, SSN at 1.4c (which I didnt listen because of the high debt level!) and recently ATQ at 15c, AAR at 3.5c, List goes on. This is a dog, but the truth is all a dog ever needs to turn to a golden goose is one company-making opportunity. Many small companies are proving this point in the market right now.
In terms of MC & comparison with RRS, RRS also had placement at 7c prior to the acquisition (also from an Aussie broker and UK fund - why so similar to MHL's funding structue I wonder?) & it got to 12c on news. That is 180ml fully diluted MC on Trinidad acquisition news and the price stayed up there! So if MHL can get 5-10% interest, I will be happy with just 1/5 of 180ml, which is roughly 1c per share.
Now fingers crossed for a good deal
MHL Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
