Minefield: Between early Sept and late Oct MCX's share price traded between 0.4 and 0.7 which is equivalent to between $0.40 and $0.70 post-reconstruction.
In my opinion the Directors paid a fair and reasonable average price of $0.278 and thereby established a low price level for calculation of the SPP. By doing so they actually did shareholders taking up the SPP offer a big favour as the SPP issue price was a low $0.25.
The price drop you refer to Minefield was actually a trade of 100 shares, a whole $21.00 worth. You say in your post that you are out. Was that your sell order of 100 shares, or part of the 5400 traded yesterday between 22.5c and 25c?
When you state "no more buying by the director and the price drops to 21c", are you implying the Director should be standing in the market with a substantial buy order to support the price at a certain price level?
Regards, Ramjet
MCX Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
