Ann: Underwritten Rights Issue & New Placement Raises $6.8M-EXG.AX, page-8

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Bull#1

195 Posts.

17/08/16

14:22

Post #: 18539501
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Originally posted by cncventure ↑

I think it's hard to argue that the directors are "good value for money" when they cost shareholders ~$2m in 2015 and the current market cap of the company is ~$34m...

Seems like a overcapitalised on directors if you ask me.

Not to mentioned that the company just finished issuing 188m shares because it had cashflow issues that was at least partly the result of poor planning of management.

I also find it a bit annoying that despite being paid millions over the last few years I'm not aware of any of the directors offering EXG the couple of million it required in a bridging loan to prevent the shareholder dilution to get through to the Dec quarter...?

I'm not saying they were obligated to do such a thing - but such a thing is the sort of thing that helps shareholders believe that managements got their best interests at heart.

And now it seems they have SO MUCH confidence in the company that in the cap raise between themselves they've bought a GRAND total of $30k worth of shares...

I'd be impressed expect but it's likely they'll still want to be paid $1.5m to $2m again next year.

So if there is a board room coup coming these directors will have to justify their value to the company just like everyone else.

EXG can't be anyone's meal ticket no matter how long they've been with the company.

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Cnc venture yes mate your better off sticking with the large caps... Most small miners mine the share price for a few years and then retire or the company just can't raise anymore capital.... This is probably what's happening here... I've seen it all before!! They have good dirt though so a take over at 7 or 8 cents would be a good result IMO it certainly has potential

EXG Price at posting: 5.0¢ Sentiment: Hold Disclosure: Held
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Ann: Underwritten Rights Issue & New Placement Raises $6.8M-EXG.AX, page-8

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