MZI 0.00% 3.2¢ mzi resources ltd

RCF aren't buying. RCF is getting paid in shares instead of cash...

  1. 4,532 Posts.
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    RCF aren't buying. RCF is getting paid in shares instead of cash as MZI can't afford to pay interest on the loan.
    The 29 million shares is to cover the $1 million in interest owed for the quarter.
    I feel sure that RCF will continue to prop up MZI a while longer for 2 reasons
    1) They have a lot to lose if they pull the pin
    2) Profitability is just around the corner and you can be sure that they don't want to miss out.

    It may seem a risky investment, but its not often you get the opportunity to buy so cheaply when profitability is so close, there would be a lot of pressure on management to start performing.
 
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