bloody lost from 60c, page-16

Navigroup are investors not traders, they are unlikely to be the sellers. My point earlier was that if Navigroup were back at the table to negotiate the rest of the placement, the price could be as low as 19.7 cents being the average of the last 30 days less 20%. This seems to be the pattern for the company - watch the shares perform then do a placement and take the pricing tension out of the market. Why would any large fund buy in the secondary market when there is always a discounted placement in the wings. We will never see the true performance of these shares until the board stops constantly diluting through placements and starts respecting the contribution of their investors.