What a weak apology for hopeless execution and continuing huge...

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21/12/22

17:41

Post #: 65404260
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Originally posted by NikolaL: ↑

it is clear sign (I want to stress this is pure speculation on my part and only post how I read what is going on) to me at least he has liquidity issues as he is selling again during persistent market falls.

If I am correct though it means if markets continue to fall and I see no reason why not then IG will probably be forced to sell more ALK shares - lot more if he is being hit with margin calls. If he pledged ASM as collateral to take a loan to make other investments then falling ASM share price will be that trigger for more margin calls.

Now everyone needs to understand these are his shares and he can sell them anytime he wants. What is bad for us shareholders is IG is destroying the confidence in the SP as many buyers will not be rushing to bid higher when they know there is a desperate seller out there. I've seen this few times in my life.

As long as he is not selling on the back on inside intel I don't really care. I personally haven't seen any evidence of that as if he is selling on inside information then I thought Nic and the board would be dumping shares too - most likely.

So where does this leave us - I'll be brave and say this could be buying opportunity even though I don't have too high hopes of Nic succeeding in attracting investment in the US. Not sure how he will fare with Europe but I see US investors as most aggressive on the planet and I doubt they will like the idea of 3 rigs at the Molong with no clear timeline when ALK will be testing the other areas outside Boda/Kaiser. Telling them they may see a hole or two over the next 12 months but no guarantees will be laughable.

But I hope the trip serves as wake up call for Nic and forces the management to actually get their act together and draw a clear path how rest of the Molong will be explored. Shareholders deserve that much. They need to drill few (3-4) extra holes per quarter in the rest of the prospects and show they are proactive rather than reactive.

And yes, I'll be happy to be wrong and Nic does get solid investment from the US - with only 3 or 4 Rigs not if he agrees to more than 4 rigs at the Molong. Then I'll have questions as he agrees to such move to get new investors but was happy to ignore existing investors calling for same over the last few years.

For now we have to endure the pain and hope he is only selling due to being squeezed for liquidity.

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What a weak apology for hopeless execution and continuing huge sell down on market by the Chairman.

And what are the directors doing while this farce continues ?

Just bemused watching ?

We now have a new term for the asx, its called to do a Gandel

ie disorderly sell down of shares by a chairman so as to trash the share price and companies value

I sold out. Who would have any faith in ALKANE while this circus and sell down by the Chairman continues

ALK Price at posting: 55.0¢ Sentiment: Sell Disclosure: Not Held
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Last 43.5¢		Change -0.005(1.14%)		Mkt cap ! $262.5M

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