i did the research very thoroughly and whats more got an associate of mine, whom used to work for one of the big auditors to do the finer maths for me.
everything looked good.
the business is cash generative, it pays a divi, (0.01p against a current SP of 0.045), the yield is astonishing, BUT,
BUT and more BUT's, Russel Stevens is off loading massive amounts of stock. His wife is terminaly ill and he needs to spend as much time with her as possable.
Whilst i understand and support his decision from a humane view point, it has had a detremental hit on the business.
he's the leading light and with him not putting in the time, the business is stagnating and as a result the shareholders are suffering.
he recently off loaded another 25m shares, which is held by City Equities, i believe Hood's are also trying to off load their big overhang.
So the short term picture for MRD is bad, very bad indeed.
The business as a whole has so much potential, but how that potential is going to be realised in the immediate future is anyones guess.
Don't get me wrong TK, i'm not trying to put a dampner on MRD, the business model is outstanding and all things being equal a multi bagger it will be, but i can't see much happening other that stagnation for the forseable furture.
best of luck and keep picking up that divi.
all IMHO of course pls DYOR and remember shares can plummett as well as go down
