...management is not to blame....?????
Weber and Howarth spent $550 Million on Jaya , took it onto the MRM books in June 2015, 3 months before the oil price tanked. Jaya is now worthless at best!!
On a capital raising.... who would invest? MRM is at the edge of a precipice. EBITDA this year will be less than $70 Million and interest will be approximately $50 Million. Management has recently said next year will be worse than "analysis consensus forecasts". They would need at least $100 Million and share price discount to get it away would be very big, think 15 cents.
...management is not to blame....????? Weber and Howarth spent...
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