Looking thru the share placement plan with a feeling of self loathing at having invested in this company. Nothing in this document sent out gives any indication to the future other than "Our next phase of growth is focused on ensuring we achieve and sustain profitable ongoing operations within the next 12-24 months."
So what will drive the share price in the next 12 months? Continuous disclosure means the road show doesn't have any great surprises to excite investor interest. Results of tank testing and more contract wins for EMC. Can that get up the share price if CCE still can't break even. Even with tank testing results to come out we still don't know the real results of the trial out a Garden Island due to confidentiality. Yes I know that wasn't the same design but what do you have to base your reasoning on.
Why not sit round and wait to get the shares cheaper later given that these discounted share plans seem to me to depress the share price and is been done at a time the share price is well and trully lack lustre. The question also is $6m is not going to last long if they can't break even for the future quarters. Working capital for the EMC side how much would it need to generate a 0% return. A 0% return right now would be an improvement. Has someone got an idea?
Plan to try to get to the roadshow but no intention of further investing I just want the hear what MO has to say. Prefer if it could be live streamed on the CCE Facebook page. Will be adding this SPP into the shredder box. CWE was interesting to me but CCE is just tragic. Understanable the company needed to generate revenue to help fund the wave development independent of share issues this could have been done thru other investments.
So have sold down most of my holding here and leaning towards a full sell down soon. CCE remains an expensive lesson for me. GLTAH DYOR
CCE Price at posting:
3.1¢ Sentiment: Sell Disclosure: Held
