At this stage, it is very difficult to be supportive of the board.
They used this TH as a tactic to maintain the lid on the share price. At least the trading halt confirms that there is someone standing behind the board.
The TH not only kept the lid on the price on a very positive day, but it also gave the players time to organise their strategies. The objective of these shadow strategies are to acquire GXY for a much lower price than its potential.
Having associated investors (HSBC, MS and others) hold just below the threshold as well as using derivatives means the ownership landscape is not what it seems. FFS, even the official ownership is difficult to obtain!
Best way to blow that is with media coverage frankly. That the board is not transparent, market manipulation.
I am sorry guys, but we are being fooled by our board.
Not happy.
GXY Price at posting:
$2.20 Sentiment: Hold Disclosure: Held
