"No question the fortnightly drawdowns were not a good idea...in hindsight."
Well that depends if you were a buyer or an existing holder at a higher price.
From memory the last few top40 notices show that the top are all holding and buying except FT. This is essentially an on market capital raising, yes it is done at a cheaper than ordinary market price as is customary. The on market drip fed of relatively small amount of shares ,allows holders and new investors to participate in the raising. Once FT have sold what they need to the SP will return to market value.
My thinking is the ALDP and S7 news in 2013 may be the time when both supply is short and buyers will see a this company with $15m MC worth a lot lot more. Also Mt Mulligan significant developments this year are expected.
A couple more days like today where buyers are looking at each other down the stack wondering if anyone will sell to them, then...
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