wb, the lack of risk appetite doesn't hold up in this scenario. The whole point of the Kangala funding is that it is supposed to have effectively de-risked this company! That's the point! Some money has flowed into this company from institutional investors at a handsome premium to the current abysmal share price and a deal has been concluded with the leading power supplier of the country. Then there's the massive reserves of coking coal to add to the equation, and the de-risked company soon to have a steady income stream should be a no-brainer. So yes, there is appetite from some instos, and the fact that this dog of a company will soon be back under 10 cents continues to disgust me, and the spectacular lack of PR to sell their product in the Australian market place also disgusts me greatly. And presto, if you spoke to a broker who regards it as a "dead cert", why isn't he/she directing their clients to buy at this bargain basement price? i love the way people make these sweeping absurd statements on these forums without backing them up with a shred of evidence. Look at the buy depth of this pig of a company, even at this price, look at the sell depth, then tell me about it being a "dead cert". Also, don't you just love the way that the company spokesperson never takes any responsibility for the share price and how it's in the toilet and has been for ever, as if the company is in no way responsible and the market operates in some sort of vacuum in no way connected to the actions of the directors. Yet, when the share price magically takes off they claim all of the credit and expect to be pain bonus upon bonus.
UNV Price at posting:
10.5¢ Sentiment: None Disclosure: Held
