There's been a fair bit of criticism of management, and particularly Ross Murdoch, as POHs share price sunk to new lows. However, when you consider the fundamentals, in my opinion the company has better prospects now than when the share price was around 8 cents early last year. We are also being kept better informed with regular updates and the opportunity to ask questions during the quarterly conference calls. It's significant that the decline accelerated after the announcement that POH would be removed from the All Ordinaries index, precipitating institutional selling which has continued throughout the last 10 months. Many funds are bound by their rules to restrict their investments to companies which are represented in the index. Once out of the index, whether or not the shares are a good investment becomes irrelevant.
Bearing in mind that the results of recent trials are not yet available, I think that at current prices POH is a bargain and is due for a significant upwards revaluation once the fund selling has run its course. Good trial results will be a bonus.
Just my opinion so DYOR.
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