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Hi Double Down


For some reason could not do a reply to your message so have had to post as a separate message.



Don't know if you're being condescending (but let's assume you are not). You educating me on dilution is like telling a mechanic how to put petrol in a car.


Bad Management???? - another subjective assessment without reasoning (if the share price dropped because of bad management, what was management doing right when the share price hit $0.30 and they had no machine?????????).


You have related a significant share price reduction principally to the issue of additional shares, whether performance shares, cap raising etc etc. Its illogical and the numbers do not support your conclusion.


I argue that the fair value of the company is not less than it was 3 years ago (I would go further to say it is worth more). Perhaps the question could be whether the market overvalued the company 3 years ago? Now that is a different proposition.


The market price is the market price (you know economics 101 "willing but not anxious buyer and will but not anxious seller"). Whilst dilution has had a bit of an impact it does not account for a 75% reduction as you put it.


I don't have the interest to explain it further but perhaps the main reason for share price drop is simply as I put it previously, the speccy's are no longer impressed and the market is waiting for something substantial.


If you don't agree that's fine but I am yet to be convinced of your reasoning to attribute a 75% reduction in share price to more shares on issue.


NGNG