Though i am not a compass shareholder i think the various parties could have diluted the surviving minority shareholders a lot less, it seems to me just greedy. Think there is a lot of potential value in the deposits if the new tech works and certainly the amounts being considered by Cove house to be invested would not have been considered unless there was a very good chance of it doing so.
That being the case all the parties could have been more generous to the “long suffering” shareholders and generated some good will towards an eventual relisting.
Think the company will eventually relist or list as it will want to exploit the tech and use it on other deposits so will have to come to the market for investment as Cove house on its own will not be able to source enough money for all the potential projects.
When it does who is going to want to do business with it after seeing it is happy to nearly wipe out shareholders?
CMR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Not Held
