News from $MNELF
I have been burned few years ago by MNELF. Since then I have been trading it and I have made back all my money. Now, that being said, the company crashed to pennies for a reason.
Everyone were sure they would go BK. However, they managed to save the company. They settled the debt and they were able to make cash by selling some assets. Right now, the company is basically doing nothing. But they have cash and they have interested in another company.
The book value of the stock is 0.43$ and it is now trading between 0.04-0.05 (up from last year 0.01-0.025). I think that most of the risk is behind us. I think they will have to burn some cash to begin new activities, but they are having a fresh start.
I am keeping 16 000 stock and I might raise my position to 20 000 (If I can grab at 0.03-0.04). I won't sell under at least 0.12$ but I think that if investors see the potential it might go into the 0.2$
