I made the mistake (after following advice of my useless broker) to buy this POS at the IPO for $4/Sh. I believe that the intent of the parent company is to watch the share price fall to such an extent that they can walk in, privatise and walkaway with the company for basically not very much. Remember that the IPO pretty much paid for what they paid to the original owners to buy the company in the first place.
I believe we as shareholders are screwed and that the price at IPO was derived by guesswork more than solid analysis. The price for Coking Coal hasn't changed that much since the IPO and in at least on of the conference calls I sat in on, the CEO said that the company was not focused on sales to China so any drop off in buying from there would not materially affect the companies position.
Maybe a calls action is now needed against the incompetents that produced the pricing for the IPO.
Anyone have thoughts on this?
Ann: Quarterly Activities Report, page-49
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$1.32 |
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Mkt cap ! $2.212B | |||
| Open | High | Low | Value | Volume |
| $1.34 | $1.35 | $1.31 | $2.506M | 1.892M |
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| No. | Vol. | Price($) |
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| 2 | 1335 | $1.31 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.32 | 13383 | 3 |
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