Metalex Ventures Ltd V.MTX

Beating a Dead Horse

[Oregonduck]

This horse looks dead. Chuck is holding tight on the rein.

I look for a 1-for-5 rollback to bring the outstanding shares down to around 37 million and the price, post-split, to $0.25. Chuck could then do a JV or PP at $0.25. Otherwise, the dilution is untenable at a lowly 5 cents.

[carter2]

If that's the case a 1-5 rollback Chuck better have and keep news coming as to not let the share price drop back to 5 cents.

[pennymaker69]

It would be 20 for 1 if they did it. They they would do a PP and fund a bunch of projects. I dont' think they need to do one if they just sell those Juno shares. But really they need to get going. They have too many projects and they need to move on. When they blew 300k on U2 samples a project that was dead for like 10 years. I was so pissed off

[Oregonduck]

Any rollback over 1-for-10 must have shareholders approval as per TSX policy, but such resolution for 1-for-20 has not been tabled for the upcoming AGM on Nov 24. So, I don't think so. As for Juno, it is a private company invested in the Ring of Fire, and I don't believe Robert Cudney will be so generous to cut Chuck a cheque and let him cash out.

[pennymaker69]

They already have shareholder approval from agm 2 years ago. Jennifer did talk about how they already have the approval for a rollback. So ya.. 20-1.