RE:Richard... any thoughts on Nozzpack selling his stake?netincome
2018 - 11,921,694
2019 - 4,265,482
2020 - 15,062,301
2021 - 7,717,662
2022 - 17,422,560
2023 - 12,229,398
2024 - 20 Million ?
2025 - 25 Million ?
2026 - 50 Million ?
MJS has been an "castle in the Air" before 2018. Since, 2018 netprofits were stable and prospects were good. Neverthenless, there were some obstacles and achievments to master
- Village relocation
- renew of mining license
- teporary mining shot down in the region (Coal mine dissaster, all mines needed to be checked)
In addition, that MGM accumulated a series of failures:
- sharebuyback 1 never implemented
- sharebuyback 2, only 10% of the possible volume despite low marketcap and high cash and cashflow and ended early for the IPO process
- IPO process painfully prolonged over 2 1/2 years which was announced with "at least 3 months", never communicated durng the IPO that they cant do anything for shareholders
- mine expansion was coomunicated in little bits of information and and is now about 2 years behind the originally planned timeframe
- Lies during personal talks and via mail that MGM will consider the needs of shareholder but nothing is happening
- The completly inadequat engaged Stockhouse Publishing Ltd ("Stockhouse") to provide marketing services
Esspecially during the IPO, and after the completly inadequate Sharebuybacks, MGM failed every big and small milestone and the biggest problem about it, they never communicate sufficiently.
MGM feels responsible only to the small group ,representing the shareholder majority, who confirm MGM in office every year. I assume they must be informed sufficiently, otherwise i cant not understand why they are approving this BS from year to year.
Bottom line, fundamentally, there is a lot here in this company. The MGM also is anouncing promesing developments and improvements to the fundamentals as well as to the shareholder value. The problem was and still persists, the clown gang of MGM does fail to deliver in time, fail to deliver in quality or fail to deliver at all. Or a wonderfull mix out of all 3 of this options. It is imcomprehesnsible for me how this MGM can miss and do wrong so many times. I am a fact driven person, it takes time and data to make a conclusion. So it took time to make this conclusion: THE MGM is a joke and a really bad one.
Nozzpack always had his agenda and was willing to put truth aside to push his version. Nevertehnless, he sold and i respect of course this decision and i can understand his reasons.
I did not sold, only out of the hope/conviction that the small group with the shareholder majority will finally stop burning their money due to opportunity costs and inflation.
Their are countless allegations of fraud or some hidden agend of this small group, dahedong or what so ever. Nobady ever put any reasonable thses behind this claim neverthenless any proofs or at least indications for it.
I think today, they just dont care about the thousends of small shareholders. Its dirty of them. thats all
we will benefit when the small group decides is time to stop burning their millions. They have not felt the pain for years so i assume they are rich. It remains to be seen whether their attitude in regards to their money will change now.
hope that was helpful
richrd