thanks for that macs, appreciate your time, i know it is a difficult one.
am assuming the placement was complete but no official confirmation, going by word from some takers. not huge dilution, perhaps 10%. selldown has been very low volume, presumably from people getting nervous as they don't know what they are buying into as of yet. but placement was at 1c with 2.5c oppies attatched expiring in dec this year.
mc is currently only 15mill and it gives around $3mill in funds, access to a small fund manager that it owns (lowell capital) that invests in resource opportunities, and is being handled by Cygnet capital who have previously had success with NEC and AOE. Cynget are also behind MNM and HFC right now.
by all accounts, it appears to be close to an announcement regarding a resource deal.
FUT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held