Fantastic post Hoy. Can always rely on you for thorough analysis...

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02/10/19

12:57

Post #: 40684728
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Originally posted by Hoyland: ↑

Lawrence don't be fooled by the word "sophisticated". All previous sophisticated investors have been burnt, with the possible exception of R A Capital; although a "well done" is due to those sophisticated enough to sell out at $2.00+.

"Are we missing something here?" Now that is an interesting question. The Bank of New York Mellon sold down its holdings, or at least the investors in its nominee company did (I am assuming that this BNYM fund is the same as the bank nominee funds that are listed in our top twenty holders), only a few months ago and now they have significantly increased their holdings. Why?

The latest CR is so small as to suggest interest from punters rather than a "real" institution. So what line did Ladenburg Thalmann spin them? If there was some really positive news on the way, why didn't management wait before raising more capital at such low prices and why was there a need to throw in warrants?

Now go back prior to the listing on the NASDAQ. Several institutional investors were all line up to buy $US60M (from memory) worth of shares but most pulled out at the last minute. A few months later TT-034 flopped. Who would have thought?

So what does all this tell me? It tells me that there are a bunch of people out there that have more information than I do and, at the right price, they are prepared to gamble on Benitec, but they are gamblers and not investors. More conservative investors are yet to be convinced. So, the Benitec story is not a strong one but at least we do have a story and we are all hoping it has a happy ending.

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Fantastic post Hoy. Can always rely on you for thorough analysis and depth of thought ( unlike some others on this forum).

BLT Price at posting: 5.6¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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