they are obviously not stupid $17m to buy what institutions just paid $24m for as an investment on the basis of the existing business performance and 100% dilution at 45c nett.
To mine and possibly theirs that's an easy no brainer $7m for nothing,once the overhang is gone and plus at only around 1/3rd asset value.
Great if you've got the cash - which most existing shareholders don't have - Hope your reading Board and feel some shame.
If the shareholders can't protect their interests in the business and the Board can't protect the shareholders interests in the business,then that's what they're worth.TODAY.Next to nix.
IMHO once the cash is in and the AGM's over,I can see a different emphasis,from the current board OR some pariah board members in the future.Lose shareholder faith and a good business is worth - nothing.
That's what the wolves live on - abandoned orphans - and that's what I see potentially here and POSCO and friends saw around 3yrs ago because they wanted to.
ARI Price at posting:
33.2¢ Sentiment: Buy Disclosure: Held
