If one has been with this Company, as I have, from the beginning one would have had one's share value reduced massively by share issues and loss of confidence by the market. My share value is down 95%.
I think it is throwing good money after bad to buy into the new share issue when there is no guarantee that the Company is going to survive. If one looks at the AGM document Resolution 4: Approval of 10% Placement Facility, it is evident that the Company is planning on yet further dilution in addition to the 15% they are allowed to raise without share-holder approval.
Yes I have subscribed to new share issues in the past because I wanted this Company to succeed but it seems to me it's in a pretty desperate situation and given their excursions into Tassie and the "Clean energy precinct" amongst other things they seem to have little concept of conserving funds they have gained from us gullible investors. Have a look at the list of announcements for this Company and look at the frequency of capital raisings. The Company needs millions to achieve its objectives but I just can't see where the money is going to come from.
Reading their reports one gets the impression that this Company is really going places but is it?
Like some other contributors to this thread I would like to believe this Company is going to make it but I no longer have faith it is going to do so. I am challenged by the fact that it can raise millions in government grants (indicating that someone has confidence in it). On the other hand its share price has sunk to the penny dreadful range and capital raisings targets fall well short indicating lack of share market confidence.
PTR Price at posting:
1.1¢ Sentiment: None Disclosure: Held
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