I am a non-holder but have posted here recently for the reasons stated.
I was thinking of buying but was totally put-off by the Board's recent announcements, particularly the 2 THs and what followed.
It astounded me, in particular, that it called a TH on visuals. I posted a big query about the legitimacy of doing that vis-a-vis ASX's policy on that. That said, I do not know why the ASX allowed it to happen. Such news is inconclusive, hence it being usually frowned upon
My first post was about trying to ascertain why the Board called a TH, one that really excited the throng here, that was followed by a report that did not deserve one, at least on the face of it anyway. It was preceded by a run on the shares, a sell-off. So, was the selling resulting from inside information? A few here have concluded that it was that possible fact. That occurred to me as well. I reckoned that the Board got a phone call asking if there was any unreported news.
Both situations concerned me, so I decided that I did not want to buy.
I then looked up the details of the Board members. Apart from the Canadian-based one, I concluded that there was not enough experience. That assessment supported the recent events. You directly hit the nails directly on their respective heads.
On to today. Wow! It was unmatched on anything I had seen on the bourse. I know that there have been recent substantive announcements that could have caused some belated selling, but not the monster sell-off, that happened today. It has to be something else. But what? Despite the recent announcements, the ASX probably issued a 'speeding' ticket today ie do you have any unreleased price-sensitive information? Let's see what happens there, if anything.
What to do? - you ask! Imo, the major holders need rounding up and support for your action canvassed; then go from there!
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