not so many people here as the boom days marma.I'm all out too....

not so many people here as the boom days marma.

I'm all out too. Sold at appalling loss, and EHR was the base of my pyramid [why did I do it? :\]. As I ran out of ready cash over the last few months I was forced to sell EHR. How I cursed. I was losing the chance to recover my position. Little did I know that this forced selling was netting better value than my preferred strategy to hold until EHR bounced back on the PPA, Djibouti deal, Xstrata, CIFI - ha, all dreams. At the end I thought I was best to get out with a big loss vs losing 100% and the rights on top. Maybe staying will be the better path, time will tell. But for me the risk is too great; the announcements still too vague.

So that's the raising done. Wonder how it went? There is always the option to extend it if things look bad. But the way I read it, with the raising so brief (and during Christmas too) the underwriter must be happy to take the stock. I feel, the geothermal assets will now be sold off, and our $700k used to screen new businesses. In six months there'll be a share consolidation and capital raising into a new company (can we seriously keep the name Earth Heat anyway?)

So that's my bleak outlook. Will we keep our directors? Maybe, but I bet they're just as battered and tired of this company as we are (mind you, Torey's $300k p.a. would be a sweetener). So 2013 looks like being a new business, new directors and a new beginning. It will be challenging to make any money back. EHR is basically a write-off if we're being honest. But days like yesterday's intra-day 150% SP spike makes one think there'll be some chances along the way. I'm out but still interested in how things go - a case of 'stockholm syndrome' no doubt.