As I said when I was so wonderfully criticised on hc, these JVs never go quickly and smoothly. They should have taken the 9c and just started extracting. I am amending my buy from the 4c range to 3c or sub 3c range. JVs are often an attempt to swap a bag of gold for a bag of dirt.
I don't know what the announcement will be. But I don't like to see the words cap raising on a sub 5 cent share after a 9c cap raising was essentially refunded for a jack in the box JV.
Here's another problem, locals unfamiliar with the stock market paying 9c now seeing possibly 60% of the value gone.
What can I say that I haven''t already said. We are the ones swabbing the poop deck. I will get rich on idc when I pick up stock for a cent.
Boguns in smoking jackets and thongs, totting on fat cigars and sucking on warm stubbies. Not a tea drinker amongst them.
As Oscar Wilde said - a gold mine is a hole in the ground with a liar at the bottom. Looks like I wasn't the only one bailing out at 6.5c.
To those people who read posts by other people calling the captain a clown who is full of bull, well punters, don't believe them, I am here to make money, I call it the way I see it on the day. I think the current situation might have the captain back on top of credibility mountain.
Despite holding a position, my sentiment is back to sell
IDC Price at posting:
4.9¢ Sentiment: Sell Disclosure: Held