The kick in the guts is who we've gone to for the CR. Not sure if everyone remembers, but Euroz Hartleys funded the Morilla purchase and have been a plague on our growth ever since. Since the purchase (October/November 20) till about February/March they had been the biggest seller, deliberately capping our growth. When the second "coup" transpired, they immediately dropped their entire position ($7 million if I remember right) and sent us tumbling back into the mid 30s. Finally when we're clear of them and into the 40s and 50s, when they'd of had to dig deep to reacquire their position, "realising shareholder wealth" along the way, we give them a 10% odd discount and back in with millions of units so they can pull that same crap all over again. We've all harped on about the importance of securing solid financial backing, strong instos that want to hold a position long term. Euroz is not it. Despite publicly stating a SP target of double what we're sitting at currently, they will unload for a few pips profit as it realises wealth for their clients.
I'm not angry at the CR at all, I trust our board to make the right decision, if they think we need money, then I'm for it. However I'm more than a tad p@#!ed off at who we went to for funding. As a long term holder, I'm not looking forward to enduring Eurozs' games again.
All IMO, DYOR
FFX Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
