@dirtyharryIn response to my fans in the SGR cabal, first opportunity to your many requests, had some important business matters yesterday, but not neglecting the fortunes of SGR.
Firstly, to the brazen but belated post of dirt harry, a delay of almost 4 months from him on SGR. At least most of the SGR cabal were out there throughout the market difficulties of SGR on a daily and more frequent hourly basis, albeit with inelegant language and way off topic. But not dirty harry, his last post on SGR was in April 2023 (something about regular 10% sp surges, SGR sp was about $1.50 then), and after more than 4 months, he is opportunistic enough to rejoin the cabal pile on. No impact here at all, but his late intervention is self-serving, of course with nothing else by way of substantive or value-added content as the way forward for SGR. However, like his screen name, he "made my day" with that "nothing post".
As to that special and well-regarded request from a born-again TA, here we go with your update on the intraday on market trading of SGR. Welcome your return analysis.
As at the close of trading on Friday 10 August 2023, SGR sp was up $0.175 or almost 18% to $1.15 (intraday high of $1.22 and low of $1.05), on a massive volume of 56 m shares, and a value of $65.6m.
Well, SGR holders should be very relieved with yet another Govt type bailout with your money, this time the NSW Labor Govt (Libs or Labor, the same for some), akin to the banks, Qantas, to name but a few from Government monies per se. Maxwell Smart would say "you missed it by that much" ie bankruptcy and close the doors for the Sydney venue at least. Noticeably the alternating tone and anxiety of some posters, before and after market open were very pronounced, after big relief rally with the hedge funds and fundies, covering their shorts, for now.
There is an opportunity to rebuild the business, but certainly without that SGR Board and CEO. Instead of the unhealthy recycling of the Mathieson/Millner connection by some, the progressive SGR holders should agitate for the current Board and CEO to be completely replaced for their gross ineptitude in placing the business in this predicament and necessitating a NSW Govt bailout, preceded by a full and immediate return with interest of their entire remuneration (all forms) to the business as their contribution towards the parlous financial situation.
Well, there you have it, SGR cabal, if you are inclined, give it your best shot, as the saying goes.
(20min delay)