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clock Created with Sketch. 29/11/24
21:38
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Originally posted by magmabaron:
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OK. So, I was not at the AGM but did get a pretty good secondhand account of this report and how it was presented. NOTHING has materialised for shareholders . There really needs to be a third column on each of Matt's priorities and actions and that is "achieved in increasing valuation". This must be part of a goal as goals need to be qualitatively and quantitatively measured (scorecards contain numbers so maybe put the release date share price in a column. For me, they are all failures when the company valuation has gone nowhere when you've worked your butt off to get it somewhere. He does acknowledge this but damn, the realisation that you've made no improvement is sobering.
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I'd say the languishing share price is purely to do with the financials...specifically the need to address the con notes - done, replace high interest debt facilities - done, BUT replaced with a pre-pay that requires a potential doubling of the SOI. So it sold off. MF may have thought the Glencore prepay may have bumped the SP up to 5-6c so he could raised most of that $20M at 4c. Market just saw a big raise incoming and sold off. Had we been able to get payment for gensets now, meaning only $10M needed by Xmas, SP would have shot up.
