We've written off $80 million from the Dragues purchase price already, plus spent 10s of millions extra on it. What I didn't like was the reporting of Clifford having steered NZ solid energy through a difficult trading period. How is that fair to shareholders? Fairness has to cut both ways and at the moment shareholders pre-existing Dragues, have been on the receiving end of some pretty unfair experiences. What I saw from the start of Dragues, were not only assay results that seemed to not cut it, but a lack of transparency prior to it's purchase. The upshot of the buy, in my opinion, was a cheap entry into assets like Federation, Great Cobar and Kairos, while massively diluting, and downgrading the value of the existing shares. If I could see this, why couldn't the Board? What protection did I have as an existing shareholder. Where did fairness enter into these decisions? I was once very bullish of this company, but now I can't wait to get out. That will happen when I get value from Federation, Kairos and Great Cobar. I realise Dragues will continue to negatively impact my investment, but am not prepared at this stage to give up on what I invested in, so will simply have to put up with it, and with a reduced return when I do exit. Of course one could argue they might hit another lode at Dragues, but it seems we've paid over $100 million for the risk, and I said from the very start, we have taken all the risk.
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We've written off $80 million from the Dragues purchase price...
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Last
19.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $325.8M |
Open | High | Low | Value | Volume |
19.5¢ | 20.0¢ | 19.0¢ | $1.312M | 6.738M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
55 | 3315347 | 19.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
19.5¢ | 721433 | 37 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
56 | 3414854 | 0.190 |
36 | 1367364 | 0.185 |
33 | 712441 | 0.180 |
18 | 391760 | 0.175 |
12 | 553505 | 0.170 |
Price($) | Vol. | No. |
---|---|---|
0.195 | 845764 | 44 |
0.200 | 844348 | 21 |
0.205 | 370617 | 10 |
0.210 | 412024 | 12 |
0.215 | 574532 | 9 |
Last trade - 13.51pm 26/06/2025 (20 minute delay) ? |
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