Timski, Puntman - QMN is not interested in who buys the stock on market other than for the fact it could bring them undone with a cheap take over.
Companies list on the stock exchange to raise capital as an alterantive to bank funding . The fact that you or I may buy stock tomorrow at 5c and sell at 50c is of little interest to mamangement ( unless the directors want to sell some of their own stock )
I actually made money buying QMN at 20c and selling at 35c ( missed to top by a fair margin ) but in doing that I didn't assist QMN in their endeavor to move from explorer to miner.
The punters that stumped up the 50c in the placement however did assist the company ( as is Tulla at present albeit they are getting a bargain and a leg up ) So my point in posting remains the same whether its QMN or whatever company that seeks to raise cash through an IPO or an SPP or a cap raising.
They are asking for money from people as an alternative to bank funding - in return for the cash they are making statements that should be able to be relied upon by investors making an informed investment decision.
I repeat the management of this company have failed not only the investors who stumped up the 50c placement but all the investors that have got their stock directly for giving management their cash. Traders like you and I buying on market are irrelevant to the success of the company other than to assist with S/P appreciation thus enabling the company to raise cash at less dilution to existing holders.
McCrae for all his outlandish public comments has managed to do 3 placements in last 6 months raising over $200m at a premium to the S/P whereas QMN will have at least a Billion shares on issue by the time they go mining ( IMO )
Cheers Hoot
QMN Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
