In all I was happen enough with the presentation. IMO the DSO was probably slightly cash positive at the end, FE has been over US$113 av since Oct 12, and dont forget the Fe was stockpiled until export and C1 would have be written off last FY for much of this. And they did sell of the rubbish that would not normally occur.
As to your statement CL12 I thought the same.
And there in lays a problem. Once bitten twice shy??
All long term investors have been so gutted in their investment over the last 18 months its almost impossible to get exited about anything. Not to mention suspicion is probably at paranoid levels that they will be hit with a retail SPP that will just further dilute their current pathetic return.
Very hard to decide to put more money into something that has destroyed wealth on paper and not made it.
If retail investors are thinking this the HFT, BOTs, sophisticated investors etc are to and will just play this thing for what its worth.
Anyway I hope this starts heading north, and that there is no SPP for a long time after the price moves up a lot.
GBG Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
