Paterson's and Carmichaels both had input to or fees from JKA cap raisings over the past 18 months or so. I wouldn't pay too much attention to their predictions.
The last JKA cap raising being the standout getting it promoted to me as a cheap opportunity to avg down at 6.5 cents after it last traded at 8c and then finishing its first day back trading at 4.5c (from memory). Pattos were still got the $200k+ in fees while us punters lost more than 20% day one. I spoke to the analyst from Paterson's two months later and he still couldn't seem to accept he got it so wrong. (Probably more so didn't want to admit responsibility or infer liability?). The broker still keeps telling me its worth 18cents but if I say to him "give my 15 cents per share back now and you can keep the any profit above that", guess what answer I get?
Brokers will not be truly aligned with clients interests until agreements allow for them to be paid on performance basis rather than administration and Financial advisors and planners are separated from businesses that raise cash for companies.
JKA Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
