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Originally posted by mrwalker:
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Our current share price has become a very unfunny joke and indeed reflects on our Company in the same way. Our peers in the U.S. would be excused for sniggering at us behind our backs. The mood has turned from one of long term frustration to one of anger and justifiably so. Shareholder wealth and confidence in management has been decimated. In July last year IDG pumped in $28m USD for the purpose of marketing and to bring us to FID. Those funds are now gone and some would say p**sed up against the wall going by nil result, nil achievement. In not even 1 year IDG have seen their investment slashed by close enough to half, almost 14 million bucks blown out the window. Fortunately for us they won't be pulling out anytime soon though. No way will they realize a loss of that magnitude in such a short space of time and suffer such a face losing action by doing so. They will be breathing down GV's neck in a way that none of us mugs here could possibly do. Baupost are probably doing the same thing and their stick is even bigger than IDG's.
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Good posts recently MR, I'd say pretty indicative of what fellow long termers are feeling. I'm sitting on a lovely 6 figure paper loss atm (down 50% so there's even more at risk) and feeling everyone's pain here - most acutely my own of course. I can't afford to realise that loss so I sit and wait for inevitable CR, takeover or both. I'd say we're being shorted by those with T/O designs on LNGL. When they achieve their desired SP they'll pounce - we may all see a proportion of our investment returned to us but I'm doubtful we'll see 'bagger' returns here. But we're not dead in the water just yet so you never know.....
