new capital raising - announcement, page-25

Robert Warren will not be feeling so happy. Last year he accummulated 11% of MUN at low prices I assume. If he is still holding he may be a lot closer to break even then he imagined he would be.

http://www.asx.com.au/asxpdf/20101021/pdf/31t8qq70522wwn.pdf

Well things could be worse. Just think AXM or what AAM shareholders are going through. We are not the only goldie with an incompetent management.

Like I said earlier, I do not see this as the only capital raising required by MUN in order to achieve some substance. For all I know there could be over 1 billion shares on issue at some stage and MUN would then have a share consolidation after which the process of dilution would start again. At least the management is well fed judging by pictures I have seen of our CEO.

loki