it doesn't worry me personally but I did watch shareholders recently almost destroy Navigator Gold with the same sort of negativity. That company arranged an underwritten 1:1 rights issue at 6.8c. Shareholders drove the shares down to 5.5 cents and the rights issue was amended to 7:4 at 4c again underwritten. Down went the share price again and it ended up as a rights issue of 7:2 at 2 cents underwritten by the original underwriter. The ex Navigator shareholders on Hot Copper seemed to be doing their utmost to have the underwriting fall apart during that period. In the end it was the underwriter who got the huge bargain out of it.
I know it hurts like hell to lose heavily on any company but it doesn't do those who remain or the new shareholders any good at all to be putting down anyone who talks positively about a share you have lost money on. By all means put forward ideas and facts but don't go out of your way to bad mouth those with enthusiasm.
George Soros deserves the credit for putting forward the view that a company's health and its share price are not independent. If you drive the share price down too far through negative comments and pessimism you can destroy the company by scaring the lenders and the customers and stopping equity raisings. Likewise the other way, you can save a company by turning around the share price at a dire time like this.
GPASAS
ELD Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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