Incorrect ..I’m more buggered about the way the management has handled this than the 100 percent missed gain.. never thought FFX would end up being a leaky ship that will have favouritism. I have made between 4-6x on LTR which I’m content with(I still hold decent # of shares in it)..
The comparison was to show you how the share price of the two companies run by different set of people behaved on similar news and they also got a new person onboard an ex BHP dude .. this helped in triggering the re-rate.. so very similar story but with a very different result ..
Like someone said here .. raising cash at the right time is crucial for a junior who wants to turn into medium tier but allowing raises like this/burning of cash like this foolish .. just makes the management richer.
why didn’t DEG raise all the cash when they did at 28 cents… they raised a small amount then and then $100 mill when the share price matured at $1.20..I can give you a few more names but i hope you get what I mean by now.
Not telling anyone how to do their job but if CR like this continues then we won’t be seeing wealth creation for the shareholders but only for some handful in the management and their friends and their clients..
Another thing .. usually a raise is done on a 5 day VWAP but in this case .. it didn’t happen and on top 11 percent discount on the last trade day price as it was the lowest .. if you smell a rat then there is a rat ..
