I reckon the dump yesterday was preorchestrated and was simply convertible note stock - 50% return on the money so easy money for those that funded it. Bidding swelled out to 30plus million with a 10mill bidder - few hours later - whack.
I expect the 7s to be cleaned out once again fairly quickly.
As to a cap raise I have felt all along they needed one but they have done convertible notes etc and keep dragging money from somewhere. Production reports is what will turn this around.
A consolidation wont be out of the question either.
Delivery of machinery is imminent according to their reports - albeit production has commenced from the new pits.
Its a risky play but will hold for now.
MED Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
