RE:RE:20 percent worth US$5.5 Million Sharegar777 wrote: The Colombia project valuation seems very low considering the potential at no further monetary cost to Max for exploration.
There was $8.7m in the treasury according to the April presentation.
Allow for some cash burn and the $1m to pay for the Floraria Iron ore project payment.
So, is the real concern that there will be dilution in order to develop the new Iron ore project?
A low share price would suit the Max directors as they would be likely to participate in a CR at a much lower cost to retain their percentage of the company.
The question in that case would be....who are the directors working for? Us the shareholders or their own interests?
The current Share price action tends to make you cynical but at the same time it seems like a very low risk proposition for any new investors.
The pre-halt share price and even MAX's annual high would still be a "very low risk proposition" given the potential of the company.....which is the reason shareholders invested in this play. This is just plain ludicrous. Losing nearly 2/3 of its value after releasing two positive press releases? I don't get it. I dont blame this on the directors. The price was already low enough
before the halt and massive sell-off.