MFE 0.00% 1.0¢ magnetite mines limited

Ann: Change of Substantial Holding , page-4

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  1. 2,689 Posts.
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    Agree! Management need to find buyers, but hard if only mag Fe ore (no DSO). Marcus wants more inst. holders than retail holders. But the way Sin Tang sells bits & pieces on-market can push price down. AND they also sell to their friends or related companies, so they still hold those shares sold (can be re-sell again and again and again).

    I've witness what they done with FWL (I only got small holding) and attempted to remove the entire board. I spoke to Sin Tang about buying their entire (left-over) stake in FWL (10.6m shares), but they refused to sell but may sell bits and pieces for many years.

    They will also make sure options are worthless, so no cash coming in and force company to issue shares at low prices.

    IMO just be careful with Sin Tang.
 
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