RE: news releaseBeyond the dilution issue, the lack of response to the news release suggests that the market is none too impressed with the behaviour of this management group.
Even assuming that they weren't trying to grease palms with that giant cheap placement, it stinks to high heavens of poor judgement. MIO took a big credibility hit with that placement. This combined with reports of rebel activity against mining operations and duds at Calo has killed the good buzz that MIO had just a few months ago.
If you believe in the Kay Tanda property and think these folks will serve shareholders well, however, this is a very good buying opportunity (although it could drift lower, so waiting a bit might be wise).
And if any of the management at MIO are reading this -- thanks for chasing me away, I've made a boatload off the money I used to have invested in MIO.