Sydney, in two years since listing there has never been a single notice of a major shareholder increasing their holdings. There has never been a single notice of a director buying shares on market. A few like me have been suckered in to treating it as an investment grade company but its been proven to be nothing more than a trading stock. They are almost out of cash and if they want to get serious with Bitterwasser they are going to need a big cash injection (more than the standard 15 % + extra 10% approved at the AGM) can cut. Perhaps a big rights issue has been the agenda from the beginning? We will have to wait and see.....
For what its worth, I do agree that in all probability this is the bottom (for now).
AM7 Price at posting:
15.0¢ Sentiment: None Disclosure: Held
