RE: Smart money for a rise.19 Jul 2021 13:52
There is only one reason the share price tanked three days on the trot, prior to the placing, despite what we had just announced.
Opaque Family Trusts and offshore holdings were being offloaded by the management team … gathering together the funds to reinvest at mates rates levels, knowing they could raise the money they’d need to participate in the placing (that the lower they made it the more shares they would have for the long climb up this next 18 months).
Not a long time to wait as with a mkt cap down here, risk fairly largely removed and apart from shredding p.i. confidence …. which will tend usually to be short lived.. they don’t have to face out those they’ve just shafted… then low and behold…. ‘oh surprise surprise we were in discussions after all and heres a joint venture’ the price recovers and at pi’s expense…. most having run off suffering a healthy loss cursing and moaning.
I maybe doing them a disservice but hey do they care…. one day Buck and his team will be laughing all the way to the bank.
My only solice … they sold 100% over the placing … I’ll load mine up right now at 8/9% under what they’re loading up at.