shafted again, page-2

I am very disappointed. Being a long term shareholder (many years!) I lost faith only to then start to feel that VPE had finally turned the corner in the last 12 mths. Some great prospects, profitable production after many years . . things were looking up!

This is the last straw. I would love to understand VPE's capital model - they have a truck load of options that are about to expire. Before this capital raising they were well in the money and providing a reasonable return and all but likely to get exercised. Now they will be marginally in the money and although likely to get exercised this capital raising has totally devalued the value proposition for option holders.

Rubbish, rubbish, rubbish!

Tui, I am in total agreement to many of your posts on the CSG sector but one thing I will never agree on is your views of VPE management. They continually erode shareholder value and yes, there are some good longer term prospects but they company will only ever be valued at what people think it is worth and if JK keeps making decisions like this no retail investor will want to support them.

Let me compare to two other companies"

BOW - great management - overdeliver regualarly and deliver with speed. yes have diluted holdings with recent placement but placement made at 4 times price of 12 mths ago thks to producing great results during that time.

STX - strong cash flow (like VPE but stronger), great prospects - focused effort on getting value from these prospects using cash flow. OK, they might take longer doing it but shareholders will ultimately be rewarded as they are not being diluted to the crap like VPE has done over and over and over in the past few years.

My rant - VPE - you have now returned to the 'lost faith' bin on my watch list.