The only shareholder value they are providing is to the instos. Time and time again, they do a CR at a massive discount to instos and then talk it up to raise the price and allow the instos to sell (to excited retail shareholders that are reading the 'news').
If they stick to the standard script this time around, after the instos are satisfied (and by that, they are largely no longer as big of shareholders because they have offloaded most/all) then management says........wait for it.........NOTHING - for long periods of time. This is the key ingredient for the 'shorting' part of this continuous process. If the standard script continues we will be entering into the 'shorting' period soon.
Like everyone else, I'm hoping this standard process will be disrupted by news. But, we have been here before many times and the news just didn't come because.....well because someone's dog ate their homework - there's always a 'nose to the grindstone'...'we are getting on with it'....fda delay this....Monty Burns needs better hiking boots that, type answer. The bottom line is that the BoDs normally go very quiet and announce NOTHING - which the shorters love. It's a historical fact. Moreso, it's a historical trend that you can set your watch by.
And I don't buy the Retail offer in the last CR. The presentation and timing was absolute sh!thouse. Only 13% uptake reflects on the BoDs!!!! Yes, it is their fault that their shareholders don't believe them!
I want the one on one sales pitch that SI gave to Instos that had them oversubscribe within 48 hours of the AGM then go hard at the overhang. Surely they were handed a brochure - where is it?
What are instos told that has them INSTANTLY oversubscribe millions of dollars whilst only 13% of retail subscribe? Given the VAST majority of shareholders are retail? Instos selling to retail is CRITICAL for this money making (for some) machine.
What did SI say? Australians don't understand Bio's? Australian's understand having their pockets filled with pee though! What nationality is Itescu, again? Give us another American Football analogy, Silviu??
Not bad for a Friday. Thanks for asking. Have a good weekend, fellow mushrooms.
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