Ann: Trading Halt, page-34

Those who lose out should be cut some slack imo, unless they backed a dog against clear warning. "Why you so mad?"... bit patronising, losing money hurts in a brutal game skewed heavily towards those with superior knowledge, contacts or information. Retail are often none of those, just newbies trying to get ahead in a game stacked against them, often encouraged by outrageous pumping on HC. Hard enough to watch their pain and self-flagellation without rubbing their noses in it.

And it's not just newbies get bled like stuck pigs playing ASX juniors. Reading all the placement posters comparing how much cheapie greasies they picked up or got scaled back... well done guys. You are the winners, buying wholesale and selling retail WILL make money over the cycle so long as you DONT become investors or ignore stop losses. Only way to make or lose big is hold long. Feeding off investors actually backing projects and providing market liquidity wholesale needs to get out is a winning strategy, but nothing to be proud of imo. Pretty simple, better relationship you have with a broker the better CR's you get access to, and the less you get scaled back... loyalty, networking or the old school tie club, heroes all .

Regards the CR price, I'm in two minds. On one hand MH did a fair job holding the 3c line into tax loss selling after the long sell down from drilling front-runners (imo), tactically waiting to new FY with three rapid fire releases that met or exceeded price-led expectations. Price to 4.5c into a rising market... unfortunately the new exploration ground release was white anted by broker contacts killing further upside and forcing the CR price right back down. Does MH cop blame for the brokers he chose or CR timing going at the bottom just as entire market bounces hard and NWC might otherwise have a 5 handle? Think investing is tough, try running the damn things. At least he's well remunerated, playing with free shares and other people's money (even if the BBQ invites drop off or become too uncomfortable to attend).

So broker clients and more important holders all happy to get re-filled near 3c LT support lows (70% below last CR) but for LT holders it's a kick in the guts and new headwind to chop through. Probably no SPP for the unwashed retail either. Potential buying support filled off-market, many will be constantly flipping for small profits. CR's are necessary evil but the self-fulfilling vicious cycle of sell and re-fill can be a bitch when management obliges. Anyway, some got cheaper tickets than others, everyone now needs to hope exploration success makes a fool of the Lassonde Curve.

Good Luck.