i think they were initially conservative..., page-105

Even though I'm not a holder of RXL, the discussion is relevant across the small cap asx sector. The Perth brokers have this down to an art form, selling down into an upcoming CR often free options and all the rest.

To be honest its probably more incompetence rather than dodgyness by MD's and boards of these companies. Most of these guys are Geo's or Mining engineers with a dream but often lacking any commercial skills.

Thats where boards should provide the necessary governance to make sure the best deal possible is done for a company and the shareholders, however the gene pool of quality and qualified boards has been severely diluted in the last ten years in Australia. There lies the problem...