Players will have lost much confidence over the last 2 years. A couple of years ago I'm fairly sure I remember forecasted eps of 17cps. Today I brought the much diluted shares for 18c.
By my reckoning, Mike Coote now holds about 16% of the diluted capital. A couple of significant new substantial holders, but many of the new holders will just have increased the tradeable free float. Imo the sp has been particularly succeptable to herd sentiment because of these fluid holders.
I've corresponded with MC in the past. Found him to be honest and knowledgable. Imo he'll be working hard to salvage the value in his holding and generate a return on it. Also predict hes determined to do the best he can for disappointed holders. Peoples interests are pretty much aligned methinks.
CXG Price at posting:
15.6¢ Sentiment: LT Buy Disclosure: Held
