the last CR was done under extremely difficult circumstances but had to be done in order to avoid doing it under even worse conditions as global economy slides into recession and liquidity dries completely. The mistake POD and few other explorers made was that they should have seen it coming and should have done big CR when POD was trading at around 40c. But then again, all these small explorers don't have access to macro analysts to give them heads up. Having said that POD did what they had to do in order to ensure they have money to continue to progress under these conditions. They even scaled back the drilling as there won't be any extensional drilling anytime soon. You need to understand what is going on around the world and that Oz is not an island isolated from rest of the planet.
2 weeks ago BoE had to intervene to save UK's pension funds going bust which would have freeze the global markets. Last night BOJ did same for similar reasons. Last week the FED had to provide swap line to the Swiss to plug a hole in Credit Swiss. And you accuse the management of running the SP down or for not getting better deal with the CR? lol Have you ever in your life tried to get funding for a large project? I've done few for up to $1.5m and I can tell you it's not easy even when we are going through easy times - and last 8 months have not been easy at all.
POD Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
