SXY (ASX) Ann: Change in substantial holding

Originally posted by Elliot5 ↑

Originally posted by CEOChair
Spot on. Continuous stream of character assasination, rumour mongering, damning with faint praise and unsubstantiated innuendo is incompatible with certain posters stated position. No credibility, in my view.
Most here recently had an opportunity to sell some at multiples of what they could have paid at the bottom and even longer term holders underwater must be most relieved to see these levels again. Pretty sure the majority are most appreciative of the management for that opportunity whether or not they took it.
I use to be a strong believer in Senex, having held and traded their stock since 2011
BUT i have been trading my way out of my long positions the past 6 to 9 months since Xmas.
I presently hold NO stock (which is a first since 2011) as I no longer have faith in ID
Senex may or may not have some decent assets, as its hard to calculate given the shifty pulled on us all by inflating the Balance Sheet.
We still have NO clear facts on WSGP flow rates.AND the last kick in the guts for me was the acknowledgement that parts of of WSGP may not be commercial at current prices = clear signal when NO capital is being allocated towards its progression, namely the GSA had to be .... watered down to accommodate the reduced levels of ultimate gas recoverable from the capital being allocated.
So i have sold out 100%.
I no longer trust or believe in ID.
I noticed a trading opportunity earlier this week but missed it. IF i was to buy this stock again it would be only for very short term positions.
Does ID care that he has lost a long time holder, not at all !!! as he is a strong believer in the greater fool theory , that's why he continued to ..... play the music ..... yet the big instos' are staying away (look at the average decline in trading volumes) AND their biggest shareholder EIG sold down , leaving enough only to maintain its Board seat.
I am firmly behind @tt2000.and i will continue to follow his posts
FYI .... I have changed my sentiment to Hold .. and my position to Not Held .... something which i have overlooked in the past.
GLTA ... but think for yourselves also !!!

Expand

@Elliot5,

Im also going to have to make a big call upon reviewing the outlook, but agree 100% about the way the market is starting to perceive ID.

3 years ago WSGP was touted as the flagship asset.

Then Atlas got handed to us and is now the flagship asset, WSGP is second tier and everything else is non-core.

The ASX and ASIC are a joke. You've traded on an uniformed basis (lacking information from SXY to make an informed decision). Continuous disclosure is a core Corps Act principle and SXY appears to refuse releasing anything on the WSGP.

I hope shareholders arent abandoning this ship without first forcing to hold ID to account

Ann: Change in substantial holding, page-34