Ann: Sino Gas - Raising $10.1 Million via Institu, page-19

re: Ann: Sino Gas - Raising $10.1 Million via... It is not your typically kick down here although some bleating on looking after option holders is nonsense.

You have to remember most here have been through major management missteps like the Springtree facility and the failed raising in early 2010 - so they have been through it all with the company. They didn't buy when Robert Bearden started. The recent shareprice move is only part payback for showing faith in the company.

This CR blindsighted holders - plain and simple.
After selling down 50% of their projects and getting $10m in the kitty most holders did not expect them to come back until mid to late 2013. At that point more results would have been out, the shareprice would have been far higher and any dilution would have therefore been at much higher levels. So the annoyance of holders is all very reasonable and completely understandable.

The sense I am starting to get is that the company has been run far closer to the wire than most of us realise. The next cashflow report will confirm it but I think there were big payables due which basically decimated that $10m from MIE. You add some corporate costs and all of a sudden the kitty is looking very sick again.

Good to hear they are bringing on new instos to fill out the register. At least we know the stock won't be on the market next week depressing the SP.