Over 9 million shares traded at 5 cents today. It's looking like the fair price to buy at
Could've made a quick buck if you did....
Posted 26 June 2014 - 04:24 PM
Over 9 million shares traded at 5 cents today. It's looking like the fair price to buy at
Could've made a quick buck if you did....
Posted 26 June 2014 - 02:55 PM
Over 9 million shares traded at 5 cents today. It's looking like the fair price to buy at
Edited by Trader1, 26 June 2014 - 02:58 PM.
Posted 26 June 2014 - 01:08 PM
Ok as I predicted, the share price for MRI as almost halved from 10 cents to 6 cents. -40% today
Current Shareholders were screwed by the conversion of debt for a 50% option discount to the current share price.
They should have just offered debtors shares at the current share price.
Management should have also only taken shares at the current share price of 10c. by giving them shares at 5 cents, shareholders are in fact paying them double their agreed upon salary.
I think there will be some more decline considering that they had to write down R50 000 000.00 because their water project has no foreseeable future. It was the correct accounting treatment as it does not add any value to the company and therefore can not fall in the line with the definition and recognition criteria of an asset.
Posted 26 June 2014 - 10:27 AM
In summary of the SENs annoucement dated 25/06/14, the amount of shares that are in issue have doubled. However the additional share 312 142 458 shares were issued at 5 cents, 50% less than the current share price. The directors get the same deal 5 cents per share.
Sharenet.co.za also values the NAV of the MRI share at 0.56 cents according to the 2014 Feb results. This can be found on the link below:
http://www.sharenet....=ALTX&scode=MRI
Posted 26 June 2014 - 10:19 AM
So here are the results according to the SENs announcement dated 25/06/14
Posted 18 June 2014 - 10:14 AM
Does anyone have news about the results of yesterday's shareholders meeting?
Did they vote in favour of granting shares at 5 cents each for the directors and debtors? Current price is 10 cents.
I think that it was going to result in almost doubling the shares in issue.
Posted 29 May 2014 - 09:17 AM
As it is now only 2 people are bidding to buy at 2c, you can see what it means about the stock... but things can still turn around who knows
Posted 28 May 2014 - 09:52 PM
The highlighted portion shows without a shadow of a doubt you deliberately tried to manipulate the forumers towards this stock.
I honestly believe sir / madam you are a clown.
Share price on 10 May (date of that pump) 19c today 9c
They have also impaired / written off their acid mine drainage equity stake which was the buzz around their IPO
AMD now dead in the water Ooops Krusty was that a joke....I'm sure you're not laughing sad thing neither are the people you preached to.
Hopefully nobody bought in on the advice of these guys.. this thing was dead from the start!
Posted 28 May 2014 - 09:22 PM
Surely, given the potential of this business, this is the best time to invest when the price is at its lowest and where you can maximise your earnings. I am not saying put your house on it, rather a smaller amount in which you could make anything from double to ten times the profit on return.
The briquette business alone will show fast returns once operational, and if AMD contract awarded then this will rocket. They do have the most cost effective and best solution to the problem.
The highlighted portion shows without a shadow of a doubt you deliberately tried to manipulate the forumers towards this stock.
I honestly believe sir / madam you are a clown.
Share price on 10 May (date of that pump) 19c today 9c
They have also impaired / written off their acid mine drainage equity stake which was the buzz around their IPO
AMD now dead in the water Ooops Krusty was that a joke....I'm sure you're not laughing sad thing neither are the people you preached to.
Anyone need a heads up...!
Posted 28 May 2014 - 07:41 PM
Look at the trading statement..
Posted 28 May 2014 - 12:06 PM
Has everyone sold their shares? Why is this Forum so quite?
Is MRI something that one should still hold?
I found these two articles about MRI:
http://www.iii.co.uk...-growing-losses
http://www.miningwee...arch-2014-05-14
Posted 12 May 2014 - 07:35 PM
Update on Briquettes and Coal Fines.
Posted 05 May 2014 - 02:09 PM
Anybody have any updates on MRI, I see larger quantities than normal bids and offers available.
Posted 14 April 2014 - 01:57 PM
That's the gamble though. They are getting rid of debt for shares so debt free they may enhance. Especially if the give us some good figures.
Agreed, it is a gamble. Optimistically there is a high return, but I wouldn't make it the bulk of one's portfolio.
Posted 14 April 2014 - 01:44 PM
That's the gamble though. They are getting rid of debt for shares so debt free they may enhance. Especially if the give us some good figures.Trader1, surely when all these shares become active then MRI share price will be closer to 6-7c, better to wait and buy when the shares are converted
Posted 14 April 2014 - 12:11 PM
Trader1, surely when all these shares become active then MRI share price will be closer to 6-7c, better to wait and buy when the shares are converted
Posted 10 April 2014 - 03:09 PM
But long term wise do we see MRI share price moving positive to reward us for our patience?
Hence why we should average down now. I mean if the share price reverts back to IPO price (19c), currently you can buy at 9c or 10c, then you can make double your money back. But the move is not based on any of the companies fundamentals, but on hope in my opinion.
Posted 10 April 2014 - 03:02 PM
But long term wise do we see MRI share price moving positive to reward us for our patience?
Posted 09 April 2014 - 08:00 AM
Trader1, what will you do of it should go down to 5c?
I would consider punting R5k at that amount.
Agreed Sugafoot. It will average your share price down. But maybe rather put down R10K as transaction costs need to be factored in
Posted 08 April 2014 - 07:36 PM
So many shares being issued to directors and lenders at 5 cents.
From Sens announcement:
"It is assumed that in terms of the ASOF Conversion Option,
ASOF will fully convert the loan balance as at 14 July 2014 of
R12 584 899 into 251 697 989 new MRI shares at a price of R0.05
per share."
Furthermore 13000000 shares will be issued to directors at R0.05 for outstanding fees.
Investors shares are being heavily diluted. Sharenet give a current NAV of a MRI share to be R0.08. This will surely drop with the issue of shares at 5 cents.
Looks like we're locked in for the long long run, those who invested at IPO (R0.19)