re: Ann: Atlantic Secures $41.7 Million In Ne...
So I got TOU'd for pointing out the emperor has no clothes (or cash). No surprise there I guess, but it still hurts.
Last time I got TOU'd was a month ago for "rumor mongering" about a big cr imminent, or insolvency in days. Turns out I was waaaaayyyy off....like by a few weeks.
I can't believe you ATI holders with your blind faith in the MD. What exactly has he done to earn this loyalty? Please someone share a story because I'm curious.
What I see is a guy who told us in Sept that all was okay, just a minor delay to spend $250k in minor improvements before commencing production. Turns out that was way wrong. Then in Dec saying the $20m just raised will see ATI thru to full production in a year. Wrong again. Now going back to the well again 3 months later, and filing a set of accounts showing a big working capital deficit at 31 Dec, just a few weeks after raising $20m! Do you realize what this means? There must have been a big working capital deficit at the time of the share issue, and it wasn't disclosed! I'm having trouble believing anything the MD says, and I'm not alone there.
ATI Price at posting:
76.0¢ Sentiment: Sell Disclosure: Not Held
