MST 0.00% 0.1¢ metal storm limited

afhl goodbye and good riddance

  1. 878 Posts.
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    AFHL. Goodbye and GOOD RIDDANCE.

    MST has short term finance and a little bit of breathing space to organise another source. Let's hope that they will be a little more circumspect this time.

    Topdad, re your question about why MOD is still selling.

    Lancelot answered, MOD needs the money, plus he is probably just as fed up with MST as other shareholders, plus he has such a lot to lose if the coy. goes under that I expect he thinks it better to get something back now whatever the consequences to others or to his remaining shareholding.

    The major mistake that I think the board has made is that they waited till the last minute and kept saying that they had every confidence that they would come up with finance. The capital raising procedures should have started long ago once MOD made clear his intentions and once some good news on technical developments was coming out. I can't think why they didn't plan further ahead, it was obvious they were going to need more money long ago. Perhaps Moosey is right and there was some hidden agenda? The delay has come close to destroying the company and we have all sufferred, including no doubt the staff of the company.

    In spite of the support I have had MST by hanging on to my relatively subtantial shareholding, I actually am quite surprised that the price has held up so well given all the bad news and the dumping of so many shares from MOD. Who is buying these shares? Mums and Dads? Traders? I doubt it. Mums and Dads don't generally go for these kinds of shares in large volumes and traders (rightly) take a very pessimistic view. There are quite a few traders taking advantage of the ups and downs but they don't usually absorb large percentages of dumped shares. That there are buyers absorbing MOD's shares is one of the very few positives in the whole saga that indicates there is some hope for at least some recovery in the SP once the financial problem is sorted out (presuming it will be one way or another from a source other than AFHL).

    That the SP jumped so much on the initial announcement of money and so many shares were sold indicates that there is significant interest in MST provided they can get the money to keep going. However, I would think that confidence has been severely dented and would doubt we will see such a big rise again just on the news that they have some money. However, if they get real and significant contracts for sales of the Maul next year, that should spark a lot of interest and people buying back in again.

 
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