MXI nightmareWilwal
I really don't fault MXI management either. This was supposed to be a quick "find it and sell it" like the Jilbey deal before it. Then the world financial meltdown hit and suddenly risk was a four letter word. The financing options for juniour anything companies evapourated overnight. Cannot blame the MXI team for Bears Stearn and AIG going under or on life support.
Then, as they were putting the contingency plan together there was the Keystone Cops coup in Mali where the president heard the army was coming to talk to him and fled. I still believe that they only wanted to air their grevances about pay and equipment-but the boss ran out the back door. Could have all been avoided. Again, MXI cannot be faulted!
Greg has proven himself time and again as one of the top finders of the stuff in the business. And we own 50%, as opposed to the more common 49% for the juniour partner, because of the team.
I do believe that the whole area is getting too hot for us to last much longer in our present state. An underfund juniour in a hot area is just too tempting for other players in the vicinity