Club Mulgoa

Sunday, February 20, 2011

Bad news are always true until proven otherwise

http://www.theaustralian.com.au/news/nation/national-park-rumours-take-toll-on-sa-uranium-miner/story-e6frg6nf-1226009095589

I bought MTN a long time ago. Then someone in a share trading website that I don't visit anymore painted a gloomy ecological picture. He stood his ground and asked those who condemned and attacked him to go and have a look at the tenement. It is apparently very beautiful and he says that it should be a national park!

Then a Hong Kong mob came and offered a ridiculously low price when MTN was struggling. That opportunistic bug persisted to make life difficult for the board but eventually MTN share price rose because market sentiment improved and it made the HK group looked evil.

Soon after, MTN was fined for not doing the right thing where it was exploring. The tailings were not discarded properly.

I cannot remember when I sold but it had become only a small profit. Bad site because of its natural beauty and board doing the wrong thing are not good omens. When it becomes a National Park, it will be the end of the story. So all bad news are true until YOU prove it wrong.

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