I have been involved in some way in the share market for a lot of years, but moreso from about 1999 and have seen a fair few cheap looking stocks go broke! Normally with a chart like this one too!
I dont like the fact there has not been a good bounce back either from those lows of a couple of days ago (46c) .
However, despite those two facts against buying, I have bought more at these levels, but cant recommend others do so - I do not think that Sol Patts, although opportunistic, are real sharks and are unlikely to let it go broke if it has a future (which I believe they already think it has)
There is also a chance the defence force may help out in some way before it gets to that stage -it is very unfortunate this mob were spending like drunken sailors, a fact i pointed out, though it was obvious, a couple of years ago - i did sell a fair few, wish i sold all, though i did take some profits up high also.
Your excuses for them do ring pretty true, really , but is cutting them a fair bit of slack!
EOS Price at posting:
50.5¢ Sentiment: Hold Disclosure: Held
(20min delay)