You know what’s gonna happen now... 90% shareholder approval is gonna be very hard to attain at the current share price.
Recognising this, one or more T20s may dump the stock, as will other shareholders.
It’s also possible that the wall at $0.10 has merely been a prop.
To make shareholders play ball and get 90% in agreement is going to require a much lower SP than the current SP.
So I’m calling a plunge to 4-6c in harmony with technical signals, because 4-6c is probably the level you need to get 90% of shareholders to agree to this kind of offer.
And then there’s the plunging gas price. I said earlier today it was going to $1.50. Chart below.
Biggest lesson out of LNGL is this:
If the management team doesn’t meet its own KPIs, oust them. I also wanna say don’t fall for American accents and smooth sales pitches.
(In my opinion another company that has been very similar to LNGL insofar as it has had countless delays in meeting its own KPIs as well as a smooth American voice at the helm is LNU.AX, which has been heading in the same direction. “Hyper-personalised” shareholder wealth destruction and after years of American waffle only $24,000 in revenues to show for themselves in the latest half year report.)
I share these observations so we can all learn from them, self included. (1) don’t forgive or excuse a board that repeatedly fails to meet its own KPIs and or repeatedly blames external forces for delays and (2) don’t fall for a smooth American voice at the helm.
Just my opinion and not advice
LNG Price at posting:
11.5¢ Sentiment: Sell Disclosure: Not Held
