A bit more short term pain for long term gain ?. This cap...

A bit more short term pain for long term gain ?.
This cap raising was seemingly out of the blue but I guess when you go to the trouble of a US roadshow then it was to be expected.

For the longer term holders here who have already gone through a painful cap raise last November this cap raise is disappointing but apparently needed. Its a pity that the participants who took on the previous 38 cent cap raise and short term options bore all the risk of drilling and the new 38 cent cap raise participants don't bear any of that risk and have received long dated options.

I have harped on before about Blue Ocean but it was their poor effort in handing out stock to funds who had no intention of holding and causing absolute price destruction. I notice on the shortman website their has been no shorting (looking at you Regal who are an absolute blight on small caps)) so I guess this time maybe the funds that came on board are stickier.

The drift down has been on low volume.

I tend to agree with 13th's comments. There is a lot of disillusioned shareholders rightly or wrongly will hold this shareprice back. Directors are good at getting shareholders on the register through placements but can't seem to manage any to buy on market.


Cheers