The telgraphing may have come through the qtrly, but I think the annoucement Paul (CEO/MD) made about what he's done to improve the financial stability was correct. If Cobar came out straight after the qtrly saying this is what we'll 'do' to avoid a Capital raising I don't the think market would have taken it well, as their history of delivery has to date been below average at the very best and after the last raising we have all but lost faith in their ability to 'manage'. Paul now has some 'chips' at the table. His next move might be annouce the plan, of which he might now get a little buy in from shareholders.
It is clear we haven't given them trust back yet, as based on tr silver price correction I would be expecting us up closer to 30c by now.
I thought that broker value that was posted the other day 3.6c at 5.2p/e was at least some recognition the company is headed in the right direction..... Albiet at a pace that is under whelming.
CCU Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held