Hi Agent, Thumbs don't pay the bills. Give me 1 cent share price increase over a '000 thumbs every time.
As to 'hype' over Seruway, it's better to see our directors talking up their book rather than talking it down (like a few CEO's seem to be doing in some of my other investments). Nothing wrong with painting a glossy cover, though I certainly don't believe any intent to misrepresent in their communications. (No doubt, not everyone will share my opinion).
Bottom line is they have put their necks (and credibility) on the chopping block now.
As you say, they have deviated somewhat from their business model and you have to ask why they would take such an action. Come up empty-handed and major shareholders are going to ask some difficult questions and maybe demand some urgent action.
Success on the other hand could be a company-maker....
As said before, evidently this board believes this is a risk worth taking. Does this reflect poorly on them? Easier to answer in hindsight.... I applaud their courage, although I'd be a lot happier knowing they had a royal flush in their hand.
As for the market - well we live in a "Risk-Off" world right now. The slightest sign of any company not following the path of least resistance is being punished.... doubly so in the resource sector.
No doubt, it's a good stock at the present time for the day trader. Price could do anything over the next few weeks or so and volatility is a trader's best friend.
I don't have the skillset to succeed in that field, so I take a longer term view and I'm sure between now and the end of October the price will be north of where we sit right now. Thereafter, we can but dream.
So sit tight and drink a toast to a successful end to 2012.
MEO Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
