I don't think any current holders would be feeling comfortable at the moment....the talk of any share immediately going to zero is always the worst case scenario facing a spec trader.
But I re-read the company's response to the ASX from a week or two ago and there certainly didn't seem to be any panic there, and they appeared to be on top of most of the issues raised.
It's pretty obvious that an extremely valuable asset is coming to its maturation stage after a long development stage. There is a lot of interest in the assets from a number of different groups. I mean the boss even left the company to consider a takeover...go figure.
Anyway, my point goes back to my opening paragraph. Whilst longs might be feeling uncomfortable, if the company can show a clear and near term path out of the issues being raised, and a few decent new contracts (as per the article just posted above), then this may well gap up tremendously when it comes back trading.
So I'm sure there are some recent shorters who will be feeling that bit of discomfort as well.
I'm expecting the TH to go into suspension...this may last a long period of time and probably the best for all concerned. Get the conflicts of interest and cash flow issues sorted and reap the reward of a stunning set of assets.
Milesy
QIN Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
