Blessed are those that didn't buy the story, didn't buy the we don't know who consort is line, didn't buy shares in a co that leaks cash to too many consultants.
Blessed are those who invest in companies with excellent directors who try and increase the sp of the co they work for.
Some people still saying "tree-shaking"; "nervous nellies selling"; "smart buyers accumulating"; "top 20 still hold x%"; "its just ubs selling" etc; I've seen the same type of posts over the last 11 months as the sp fades and fades.
Realistically, isn't the market saying (in a loud and clear voice) "I am not impressed with the way the co is run and Somalia (even the "peaceful north" is way too risky for me-I see better opportunities elswhere and with more impressive people at the helm". That's what it sounds like and looks like to me.
What can the co do to change the perception? God knows, I don't think it can. The track-record of cash-burn, big salaries, lavish spending, enormous payments to consultants, dilution, free attached oppies, bad press re certain associates, poor communication, it's on record for all to see.
Some people are still dreaming or pretending that good news is just around the corner, after 2 and a half years it sort of wears a bit thin.
Unfortunately, some of the people involved have been involved in similar fiascos in the past.
I used to be optimistic re rrs getting its act together, I always had some level of suspicion due to the Consort factor and abnormal trading that reeked of manipulation.
Surely, only the paid or trading cheer squad would be optimistic at this point.
Bottom line is that the co is low on funds and does not have a source of income. Further dilution (if suckers can be found) seems inevitable. And you can just imagine the level of dilution at say 8cents or less per share.
To have done a 20 to 1 consolidation and then watch the post consolidation sp sink back down to near the pre-consolidation level is horrific in anyone's book.
Common sense and the market is saying the co stinks.
RRS Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
