MCX has bought 4 strategic stakes in food groups by issuing up to a max of 5 million shares. the acquisitions are valued at $3.1 million. so the vendor thinks MCX shares are worth 60c each? why?
today they convert one of the stakes (Tas Pure Foods) into $850 000 cash by onselling it. that's $850 000 into the bank for what, at most 1.25 million MCX shares that cost us nothing to print? and while they are at it the SP is rising?
and the market cap of the whole co is only $2 million at today's close.
the new boys are really showing some style now.
I have to admit this is an impressive campaign. hopefully its just the start of the re-invention of MCX.
MCX Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
