OTCPK:MGMXD - Post by User
Post by
materialsgirlon Aug 11, 2017 9:30am
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Post# 26570225
Excuse # 127 this time for Q2
Excuse # 127 this time for Q2As we expected (or should have expected) AXY lost money in Q2.
I am glad that some people are pleased but I can see nothing at all to be pleased about.
The big bad blow was the inability to sell Blue Lagoon. The Icelandic partner is behaving in a way to encourage AXY to sell out everything there at a low price.
Excuse number 127 is copied below. Their bag of excuses contains several hundred pre-packaged excuses. Do not be worried that they will run out of new ones over the next decade. They will not run out
The Company recorded a net loss of $2.8 million (comparative quarter $3.4 million net income), primarily due to non-cash changes including changes in the fair value of derivatives and foreign exchange movements, and increased finance costs