TNT Chart, page-4330

Well done on getting in at 6c! I was just a little later than you, buying my first two parcels at about 8.5c and 7.5c. I did a fair bit of trading along the way and had a pretty good ratio of profits to losses on those trades, but other than that I sold most in the mid 20s fairly recently... shame I didn't get out around 40c! Oh well, I've still turned a lovely profit and am probably free carried on what I still have.

I was expecting a rally in response to the quarterly released in April this year, and was very confident we'd get one after the last quarterly (I'd been expecting those since mid last year and often spoke about it here, you might have seen) but the market just hates us.

How could we possibly see increasing EBITDA this quarterly given the seasonality? We're going to see an apparent drop. Any acquisitions in the near to mid term are going to incur significant dilution, much more than we'd have expected when we were sitting in the 30s or 40s.

The only thing which could give a rerate would seem to be the market suddenly deciding to analyse us completely differently. A quarter on quarter drop in revenue doesn't seem likely to do it. We'll have the quarterly within 48 hours. It'll be interesting as will the market reaction, but it's probably not a good idea to have high hopes.