Mauro, first of all I'd give them a call and ask what the circumstances of it were. Second, use your voice - which as a shareholder is the AGM vote.
Also to whoever was going around blaming shorters etc, the max shorts outstanding over this period have been around 222K shares, so nothing. Yes they have covered (only 60K outstanding now). So it wasn't shorters selling it was legitimate sales, it's very easy to check this via the asx rather than speculate as to what may have happened.
Really I think it was panic; based on what exactly I'm not sure because having $2M odd less in the bank or 5M extra shares outstanding isn't such an issue. Was it a shake out? Was it because people realised EXIM drawdown was subject to conditions? Because this was flagged in all previous releases. Yes, they paid a high price for this finance, but as I've said before this isn't a mortgage in South Yarra it was a unsecured facility (have a look at previous orbital, nab or khattar facilities)
Quiet frankly given what has happened, and how difficult we know it was to coordinate the $108M and Mez Raising with the ECAs I am please that this speed bump has been navigated.
Reading between the lines Shaparo was moved on around this time, and shortly after Ching came on the board.
I advise some people to relax, be objective, do your own research and possibly revisit how suited you are for stock ownership.
NWT Price at posting:
43.5¢ Sentiment: LT Buy Disclosure: Held
