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EGO

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As EGO's share price tumbles down we have a director who has...

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healyn

5,453 Posts.

21

10/12/15

10:38

Post #: 16584783
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Originally posted by joewolf ↑

Only Morgans have standing on FNArena who covers brokers calls. I think that Morgans are a bit out there at times as are all brokers - If they were truly committed they would by now have updated their reports as this consolidation had been flagged for a long time.

Now to facts:

The Hartley's one issued on 17 September 2015 still has the 2015 figures as forecast ... This appears to have been funded by the ASX under the Equity research scheme.

The Morgans one is 22 June 2015 after the cap raising so even older ... They were the lead manger and underwriter to the cap raising ...

The Patterson's one is 1 May 2015 and they have not even taken a stab at the financials rather using a sum of the parts. This one was also funded by the ASX under the equity research scheme.

You dont mention Argonaut which did theirs in January 2015 and said the next 6 months from then would be critical and have not updated their report. They didn't get paid but have a material interest in Enerdrill so are interested.

After all is said and done I would be broke if I followed brokers reports - at best it would generate the market. I have seen brokers still punting things that are doomed so I do my own research and probably over the years learned more on forums like HC than any broker report.

My reading is that we have been told by 35% of the shares that unless we can rally the masses they are in control - which I think they are - in this apathetic investor space. I agree that I am also tainted with a vested interest - I bought into this story.

I don't know what the share price will be what i do know is that all the fancy speeches and promises to date have not attracted any angel. maybe having traders at least meant you could get out ...

What i do know is that a board that wont undertake to resign if the Share price hits 30c must think its a real possibility. I am led to believe not one agreed to do this.

There is one benefit - we have all stopped arguing around the top up so that says it all in my opinion.

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As EGO's share price tumbles down we have a director who has been pretty good at trading distressed products. He spent 4 years doing that at Deutsche Bank as vice president.
Did the board consider this a possibility and that is why they appointed someone with expertise in this area just in case it happened?

https://au.linkedin.com/in/thomas-vincent-96352734

EGO Price at posting: 45.0¢ Sentiment: Hold Disclosure: Held
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