I can't see how today's sell off could be a good sign considering it was 130,000,000 shares sold into 0.3 - it wasn't a buy into 0.4.
I determined before today to sell if 0.3 looked like disappearing but it happened much more quickly than expected. My reasons for selling were a belief that with more bad weather in the Cooper Basin Fury-1 results are still months aways and, secondly, Peter Landau MD of Range Resources (RRS) stating in emails to certain RRS shareholders words to the effect that if MHL can't proceed with Trinidad then others will - indicating to me that he recognises a real potential for default by MHL to an extent that that they've found it necessary to have a contingency plan.
Without Fury results in the near term I can't see how MHL can raise capital sufficient to take on Trinidad. Without Trinidad I can't see how 0.2 can be avoided in the near term.
MHL Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
