Why do you all go back to the gradual decline in the SP?
It wasn't a gradual decline, it was profit taking before the next announcement.
And if you need any more proof that MT has royally F'd this company, look at yesterdays announcement and the following SP movement. Fantastic news, fantastic results and the SP couldn't get over the CR figure.
Why? Because the people that can really move the SP are sitting back. They know that everyone is going to offload their 19c shares in the 20c range. So why bother buying in? The SP will not recover until the results are in a year from now.
Now lets say that the almighty MT had held the boards line and didn't resign for "personal reasons"....lol....
The SP would still be sitting at least 30c (no doubt), most likely higher after FDA, Heally and other announcements would that have pushed the price higher like it did with the previous results.
You do a cap raise at 30c or more and your now flush with twice the amount of cash, your SP is stable and the market is happy to buy in above the CR price because they can see the accounts with 30m or more and the results in the future. Even if there is profit taking above the CR price, they will still see benefit in buying.
I'm not saying that this company is not poised to become a major player and I'm more than happy to keep holding, I'm just saying the MT is the sole reason the SP is where it is at. plain and simple fact. It would never have declined to 16c without his leadership take over.
He should be sacked as CEO and a more suitable stable person with more leadership skill put in. Anyone that votes yes to his remuneration package that he will pout forward is a fool in my mind.
PAA Price at posting:
18.3¢ Sentiment: Buy Disclosure: Held
(20min delay)