I'm not going to give my opinion on the raise going to CIMIC and GR at a 9% discount to the 30 day VWAP (or 16% discount to the previous day closing, or a 20% discount to the 14 day VWAP or whatever metric the company picks to make us feel better - all of which are true - )... I think it is great having solid cornerstones involved. Whether it is worth the discount I'll leave to the experts.
But the false logic trotted out of "all share holders large or small have had the opportunity to top up from $2 -$4 for over a year" is a lot different to seeing a share price already moving and then having the benefit of being able to go back in time and buy it for that price for an immediate guaranteed profit. It's no different anyone seeing a share that has risen and saying "Man I wish I had got into that 30days ago".
If life were as simple as "Well... you should have just bought them when they were low", we would all always buy low, sell high, and no one would ever make a loss.
Very few people pick the bottom well. For every person that should have bought at $2-$4 there is a person that bought at $6 thinking for that was the bottom. It is way easier buying in hindsight.
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Ann: Strategic investments by CIMIC Group and Hancock Prospecting, page-47
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