Syrah killed the boom

Remember that raising SYR did to Instos at $5 just after mid year? And the subsequent problems at management level that ultimately saw the CEO "resign"? And in between those two events all the boardroom runctions and rumours and - no doubt - a litany of very frank private discussions between SYR and those institutions....?

Well....that is when sector sentiment turned and - my opinion only - the investment community collectively developed a more sobering view of the entire sector.

I wish it wasnt so as I, like most here, were hoping to ride this wave into 2017.

But Syrah hit up the market at the top and the Insto money does not take kindly to being burned.....and the whole sector here in Oz is suffering the fall out. Bubbles come and go and the trend on share prices since July is obvious.

Those companies hoping to raise capital in the sector know that post-SYRs raising and CEO debacle - now have to paddle a lot harder, tick more boxes and settle for a lower placement price.

I like VRC management and what they have acheived in 2016 but the game has got much harder since SYR burned the Instos.

Just my opinion....

Coop.