If you were replying to my last comments, I was not criticising Yeager. But he doesn't and can't run the Company single handed; I think that he needs a Board revamp, and preferably with someone closer to the US capital markets.
You aren't the only one concerned with the price of their shares. I bought into (then) MAD at 24 cents when Yeager took over, topped up at 5 and 6 and again after the last c.r. at 17. If I thought that he was no longer in charge I'd be outta here.
The share price went to 31.4 cents and then collapsed, in part because of a badly planned, poorly executed and woefully communicated capital raise. Unless you are a Morgans sophisticated investor, you were penalised. Sure you could, as I did, buy on market, but that was merely opportunistic and the majority of holders were still diluted. That's after dilution with the previous restricted c.r and the Ramas warrants.
I don't think that this is defensible, and I suspect the Market doesn't think so either, because the share price has hardly moved, despite excellent operational progress and, until yesterday, a rising oil price. Hopefully. the WF deal will change the sentiment and obviate the temptation to do another nasty deal.
FDM Price at posting:
20.0¢ Sentiment: None Disclosure: Held
