L1 has FUM of around $8 billion. A 1% loss would be $76 million. They are far from losing a lot. $38 million loss on an investment is only half of a percent loss on their investment. It’s an insignificant loss for them. You are reading too much into the loss they have made. A 0.5% gain in another investment for the same amount is break even. im sure they have many investments under their watch that are more than what they have invested in Coronado. You can’t win them all. Besides very few institutions that have FUM keep investments that are out of the ASX200. Now it’s up to retail to push this company up. Of course when L1 capital and possibly Aus Super are out. When that happens we just don’t know.
CRN Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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