“Shares are only worth what the market will pay for them”
Not quite correct. They are worth what you sell them for!
You assume shares are valued on being sold today, that’s a mistake. On that basis tomorrow it shifts a pip or two and today’s valuation is useless. Too much emotional types running wild on these threads. Take a chill pill for your own sake.
A negative or down ramping mindset is to focus on negatives out of fear. There’s no doubting we are in a temporary lull until better finance is locked in. Simple. When it’s sorted fear vanishes and we are flying on a seriously super project. Self inflicted pain during these short moments is pointless. Focus on the bigger picture, the macro view. Micro views are just a roller coaster of emotional panics of weakness.
No one is denying the financing arrangements are less than ideal, I completely agree. I’m sure at the time when FT didn’t pull through management were equally disappointed. It’s one’s personal controlling mindset to know every detail every day! I’m comfortable management have got a handle on it. Naturally management reached to prepare a Plan B, which most definitely had to be a lock, on short notice mind you. So while they were organising Plan B it was smart not to panic the market that potentially Plan A with FT wasn’t coming through on time. What would panicking the market have done? With a CR for $2.6M in hand? It was smart to offer a solution, albeit less than ideal, together with announcing the problem, common sense really. Standard business practice actually as those in the game will know.
So hind sight is a luxury, when you are dealing with a sheet storm at that particular time potentially derailing a mega opportunity like Adidi Kanga no such luxury available. I think ultimately management did what’s best for holders.
Agreed some are currently 60% under isn’t good, that wasn’t part of the plan I’m sure. If the 90 days expires we can all panic together, including every top 20 shareholder. I think they will cough up $5M before letting Magna dilute their holding. Think about it! Do yourself a favour and look up who they are! They know the rocket we are about to ride. Even you will see it in the coming months when Magna are moved on and the project is motoring along towards a world class mega resource.
So this pain of 60% red is fictional and will all be in the rear view mirror....unless you choose to sell and lock in the loss and make it real! Your choice........
VEC Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
