Jury and Matthews are becoming legends in their own self interest. The only way I can describe them is that they are amazingly greedy but are also competent. I still want to know who is buying the coal.
I would imagine that they knew they were going to do this before the consolidation and knew that the share price would be trashed and that they would get a much reduced buying price for their shares. Well I hope they knew otherwise they would be unbelievably stupid. In fact if they are having this rights issue to get money why did they need the consolidation.
I am not happy as there is now no guarantee that we won't be going sub 18c again.
The rest of the coalers have moved on while RES is being held artificially low. How do you match up this incredibly cheap placement compared to FSE which came at a premium.
It will probably take me a while to sort out my feelings here.
RES Price at posting:
52.8¢ Sentiment: None Disclosure: Held
