Caveat emptor - Let the buyer beware.
One of the pieces of tosh that was used earlier in this thread to promote suckers to buy this stock was the huge holdings of the directors.
The holdings of the three major Director Shareholders (two of whom have featured regularly in the Pierpont contribution of the Aust Fin Review) have all been long term investments by the founders of Perth accounting firm Norgard Clohessy, Ross Norgard and Trevor Clohessy. Together the three of them total 30+% of the scrip.
More recent buying has been by the Board Chairman Ian Hunter.
Check out the timing of this buying versus the various announcements such as success in the legal stauch with Lindsay Fox, the sale of assets and the announcements of capital returns.
Ask yourself, if there is a fift percent gain available here, then why aren't the majors buying everything ?
And note that Hunter bought BEFORE the major announcements.
Now the question is - all four having got in before the capital returns, and with the company going nowhere in the immediate future - what are they going to do with their scrip in a shell company ?
Sell it to mugs who cant be stuffed doing any research I suggest.
Why on earth would anyone buy this when there are stocks all over the ASX going burko with legitimate prospects.
If only it was so easy. A quick win for top-pick would let him go fix his English so it wouldn't all be bad, LOL.
At least its a warning for others about the brainpower driving what amounts to his stock recommendation.
Phew.
Cheers,
AUX
ausron limited
