When Rob Ryan thanked supporters at the AGM he made no mention...

When Rob Ryan thanked supporters at the AGM he made no mention of retail investors, some of whom have held for much longer than Hawkes Point. That’s a reality check of the place of retail holders in ASX mining companies. The previous MD came right out and blamed retail holders for the share price volatility and was keen to get to remove retail gamblers from the share registry. The regular presentations at conferences such as the Diggers and Dealers are all about attracting more insto investors, the steady, patient hands in for the long term and unfazed by a low share price or share price fluctuations.

Take Hawkes Point: many years of losses and then make a few hundred million when a company gets into production is normal business for them. That’s the Capricorn play and now Ora Banda. They haven’t even inserted their own director to the Rox Board as they are entitled to do and would certainly do if they were unhappy.

But for retailers year after year of losses is a disgrace, a terrible investment in a failing company and they want out as soon as possible.

The silence of Rox towards retailers should not be interpreted as failure. IMO it’s a sign of confidence with Rox unperturbed that retailers (with false expectations) are selling out and driving the SP down. The instos and insiders are holding fast.

Following the MRE my prediction is that the SP will be 25 cps + and insto holdings will have grown at least 10%. That’s a substantial short-term profit from the current share price of 15 cps.

Let’s see if I’m right.