Healyn, not trying to defend anyone or anything, but I think we would of been in the same situation with or without consolidation. The markets are down a lot from the consolidation date.
- ASX from ~5400 to current (10%)
- Crude oil from 50 to 30 (40%)
- Hengsheng 23000 to 19000 (17%)
- Dow 18000 to 16000 (11%)
Majority of the stocks on the markets are down, EGO is not the only company bleeding. There are hundreds if not thousands of oil rigs being shutdown because the spot price is so much cheaper than cost of production (~50 per barrel).
We can play the if game but what is the use of that. I agree that management hasn't been clean about everything, but that is business. They will not reveal their next move until they need to get the best possible outcome they can.
EGO Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
