OTCQX:MEAUF - Post by User
Comment by
investornoton Aug 16, 2016 11:17pm
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Post# 25148681
RE:Hard to predict
RE:Hard to predictI suspected that a PP was in the works if buyers were not willing to ante up enough for the company.
I link this to my previous post on this. While I can see the price being fairly stable until the FT deal is completed past history of this company after PP's has been consistently poor. Often the share price has retreated significantly and soon after the deal is completed.
Fortunately I am down to about 10% of what I held as I have been selling during the current stall expecting this kind of news. While I still maintain that this is a prudent move by the company to ultimately maximize value for shareholders I believe the price will drop once again over the short term.
I have to be true to my beliefs here and I will be out tomorrow and will wait and watch for a good re-entry point closer to the end of the year ahead of any winter drilling program results. 7MM is a good bankroll for Moneta to continue with a reasonable level of exploration activities. Good luck... I do see better days ahead here.