re: Ann: IVR 3 for 7 Rights Issue Shortfall N...
Management are clowns. They have successfully capped the share price for some time to come. Now it looks more than likely that the underwriter will offload surplus stock at anything above the issue price which will leave a huge overhang for some time to come.
They probably could have done a placement at plus 15 cents and raised a few million - enough to complete a fairly serious deeper drilling programme, from which good results would likely flow thereby increasing the share price. But when you are looking after your retirement at the expense of the company - who cares?
Best thing shareholders can do is VOTE AGAINST all resolutions that involve the management, i.e., 1, 2, and 4. That's what I have done.
IVR Price at posting:
11.3¢ Sentiment: ST Sell Disclosure: Held
