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I agree, after taking a battering it looks to be bottoming both...

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Bull#1

195 Posts.

15/08/16

16:55

Post #: 18521588
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Originally posted by Colliwobbles ↑

Lockitt, agree with your balanced post. There is light at the end of the tunnel, and we're nearly there
The RRL comment was spot on, and for those of us who enjoyed that ride probably unfairly expected a similar speed-to-market from EXG, hence disappointment versus expectations dampened the share price performance.

Additionally, the 79% acceptance rate for the rights issue was way in excess of my expectations.
It has given me great confidence that the share price has based out and the risk is now to the upside.

Two factors that may slow a share price re-rating in my opinion are:
* flippers - those who subscribed to the rights issue for the sole purpose of flipping them out straight away for, say, a 10% profit (for the additional placement, does anyone know if Carmichael's client base has that reputation, or are they long-term investors?)
* any opportunistic attempts to control/change the board/company that has the effect of:
(i) distracting management from delivering positive cash flow, and
(ii) discouraging potential new investors as they witness a Machiavellian-like rebellion.

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I agree, after taking a battering it looks to be bottoming both fundamentally and technically. At some point fund managers and institutions will be forced to look down the quality curve as the likes of Evolution, Regis and Northern Star are up 200 - 300 +% from their lows.

EXG Price at posting: 5.6¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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I agree, after taking a battering it looks to be bottoming both...

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