It is a dream to believe by voting NO or YES for restructure. A lot of small holders would be simply absent and throw the vote form into the bins.
A market player has to face the reality not dream by expectation. I gamble that the restructure would be approved by the AGM. What would happen if the restructure could not go forward? ERG board could use other ways to get what they want to pass. The house is on the fire and this fire has been there for more than 7 years.
A lot of small holders accumulated their holding with the hopes ERG could discourse its miserable failure of its big projects but fail to recognize that the big projects need not just smart cards but flexible political skills to deal with the governments.
Peter Fogarty left and a lot political resources gone forever after the IT bust. Do you think ERG has the resources to deal with the political tricks? If ERG could not play the politics properly, without matter the restructure, it would need much longer time to recover.
ERG is just one of Ingot has bet on for its value investment. How many small shareholders put all of their money into the ERG based on their so-called R/D. What's your R/D for? For losing the shirts? $40->$0.008, do you think it is good enough to force you think again?
Dead cats could bounce but how high could they bounce? ERG is a great place for bargain hunters not its loyal shareholders. To its shareholders, the damage has been done without matter what the restructure is and if it could pass though the AGM.
ERG Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
