My own enquiries confirm the gist of your post apprentice, Smith...

My own enquiries confirm the gist of your post apprentice, Smith was asked to leave.

I dont know about timing of another raising, but i would expect that it would have to be done of the back of a successful install at Henderson and a higher sp.

I understand that a new CEO is being courted as we speak and an ann on his/HER appointment may be in a couple of weeks. This will be welcome imo.

As PeterKing rightly points out this really changes nothing, infact it could well be a blessing in disguise as Ross Smiths track record really wasnt that hot. Personally i bought ERJ for the technology and the business model, and have held throughout.

Not happy about the sp slide but it seems clear to me that the business with Smith didnt happen overnite and i am led to believe the selldown is driven largely by investors brought in by Smith. IMO the coming days/weeks will provide some excellent buying opportunities for those with an eye on the bigger picture.