PriceHave to keep in mind that there is an enormous overhang of the rights issue affecting the share price. 19 million shares have been bought and sold almost all betweem 8.5 and 10.5 cents in the past 3 months, from July 15 to Oct 15. ( Obviously someone must be buying) From the split date in March to July 15 approx 30 million shares were bought and sold on the VSE alone from 6 to 10.5 ( not including all the other exchanges) I don't have the total volume data from all the exchanges for that period, but taking the percentage, from the last 3 months it could be closer to 40 million in total for that period. So , realistically since the split date total volume probably is around 60 million shares traded since the March split date.
After the split , half of the total float were the cheap rights. So anywhere around 8 or 9 cents was pretty much a triple. It seems to indicate that there certainly have been a lot of buyers vacuuming up those shares. I don't care what potential shareholders think MWX has, there is profit taking with those ultra cheap rights. However judging by the volumes especially these past 3 months, it has given buyers opportunity to get in cheaper than present shareholders would like.
Hopefully at some point the profit taking dries up, and with good news, and some validation , the price can rise.
Good news to read that the plant is being set up in Tennessee. I'm sure there will be a more thorough update in the coming weeks. As we wait, I am sure, management is getting its ducks lined up so that there can be loud quacking when we get the appropriate news on both the CC recycling and Cehegin. Only 11 weeks to the New Year.. Patience....GLTA