cevattthe price of the buyback is not a function of what the...

cevatt

the price of the buyback is not a function of what the company is worth, but what people are prepared to sell their shares for (there should be some relationship between the two, but it will not be a perfect correlation).

Just as three weeks ago there were some people prepared to sell their shares on market for less than 60 cents, and today there are sellers at less than $1.10, there will be some people who tender shares into the buyback at less than $1.20.

The question is just WHAT IS THE MARKET CLEARING PRICE FOR MMG TO BUYBACK $25 MILLION WORTH OF SHARES.

You can only answer this question precisely if you can see inside the mind of every shareholder.

I am only speculating that the market clearing price will be around $1.30. In time we shall see.