Post by
AuAgee on Dec 19, 2017 3:11pm
It's Slow Time
jmaan;
The 10fer split may help them get financing but it might not help us, who knows, it all depends on future news. Hopefully the future news will arrive soon enough and be fantabulous since we want to retire this century, not next.
If you’ve seen what has happened to the TSX Venture exchange (where MBI is listed) since the financial crisis, you’ll know why many of these splits have happened; the TSXV has been decimated. Many of those stocks have failed to meet minimum listing requirements since they’ve lost so much in value so they’ve had to split to bolster their value, hence the reason for at least some of the splits.
I have two stocks – listed on the TSXV – that have been split. Actually, make it three stocks now with MBI. As an example, one of those stocks – Mustang Minerals (mum.v), I purchased for 4.568 cents. Well, it split in October 2017 after a 10fer (10 old shares = 1 new share), so, my new adjusted purchase price was 45.68 cents. After the split, it went as high as 36 cents but Mustang currently sits at 23.5 cents. As you can see, this is very frightening given the dreadful economy & stock exchange we’re in. If MBI continues to be bid down after the rollback, you could see the value of your MBI shares slaughtered; hopefully it doesn’t get bid back down to 1.5 cents after this rollback, otherwise your shares will diminish to 10% of its already pitifully low value.