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Another 10% down today.
While the potential opportunity here has been highlighted and is well documented. The buy recommended from brokers and other sources at over 3p was rushed and not serious.
1.9p is in my opinion a much better entry (while still high risk) and I would like to see the directors come out now in support and buy shares in the open market if they are serious in supporting a broker who thinks this is worth 9.5p right now. Otherwise fire the broker or resign!!
The simpler explanation is that - not for the first time - we have a 'follow the leader' mentality of shareholders.
They could have just lost patience like rugs / bored of waiting / following their strategy when a share drops x% / insert your own reason here.
On the basis of no news is good news, then this appears to be based on nothing whatsoever really. We had the usual DKL non-news last week with forward guidance, but if you're selling based on that, then you don't really know DKL.
I'd suggest a big part of this is the proverbial noose around the neck which is the cashew facility and its ongoing delays. If the board came out and said "sorry for the delay, all should be sorted whenever", then we wouldn't all have a wet finger in the air trying to figure out which way the wind is blowing.
As it is, the cashew factory was supposedly finished two years ago and we just have a faulty shelling machine - apparently.
At these prices, they should also be looking to buy back and cancel some shares. Or, heaven forbid, buy some of their own.
Collusion between broker and company. Their can be no logical basis to the broker's estimate of price. It would all be totally laughable, except the broker will have influenced some people to buy over a number of years with their "spin" (I can't call it research). So the BOD should fire the broker, and then fall on their own swords. It is virtually impossible for long term "investors" to ever break even here, because if the company ever does really get it's act together, it will be taken over by a bigger company at a premium to the SP at the time, but at 4 or 5 figure losses to the many of us. The whole outfit just stinks, purely IN MY obviously clueless HUMBLE OPINION, of course. I dread to think what great news will be heading our way tomorrow - I am not saying the company is leaky, but the word "sieve" comes to mind. Hapless, spineless management.
Bought a vastly overvalued cashew business. Some made a good bit out of that. What next. Their share holdings aren't retia dividend but I assume there are annual bonuses. All at the expense of us.
Simo, I can't say I'm overly worried at this point despite the recent sell off. It's nothing we haven't seen before after large sales, there's a domino effect of others piling in and a race to the bottom.
It's clearly not good, but if they can get the cashew facility up to capacity - bearing in mind it's now the best part of 3 years late, despite the rhetoric - then some positivity should quickly return.
I bought in years ago as I liked the story. A new business, creating something, supporting local farmers, growth and sustainability.
This has all changed and I don’t like it all all anymore and am just holding a small position and will exit if it breaks even.
The broken promises, disorganisation, setting up other ventures that are then bought out, paying staff in shares as if it’s a technology company, endless issuing of shares and incompetence of completing things for years have left a rather sour taste in my mouth.
We thing the share price should improve at these levels, but we thought that at 6p, 4p and 3p already.
The best you can hope for now (if the business is actually any good) is that a bigger company buys this out, but they never pay an astronomical premium … maybe double of what it is, but that’s it.
The last thing we want is anybody buying us out at anything like these prices.
Disappointing to see palm oil prices unable to hold around the $4000/oz mark, that really would make a difference right now especially with thousands of tonnes of inventory built up this year.
Great Post Danny! I think most investors have lost faith in these charlatans as you couldn't believe a word that comes out their mouth. Driving the company into the ground while issuing shares in lieu of payment taken as a sign of confidence in the company would you mind! It seems to have escaped their attention that all these shares exchanged in lieu are worth a fraction over time of what they would have got in cash under their stewardship which makes the arrangements very fishy indeed. Scratch a liar and you find a thief underneath. Indeed.
HarChris you really are a throwback to when I and others used to post such things as an indicator of tailwinds under which DKl would propel forward. I wouldn't bother if I were you because if it was raining soup DKL would have a fork. But if its any consolation I expect as we are probably due an update Rivaldo will be along in a minute with a post about a 9.5p target price in dome broker note or other.