Ann: Maggie Beer Acquisition and Capital Raising Presentation, page-58

I don't disagree with your frustration, 80% loss is insane and they have failed at execution on every front thus far. Not just in the business, but also importantly shareholder relations and capital raising (which was supposedly a core strength of the new management). I am concerned about a large write down in goodwill at end of FY19 as well - Paris Creek is bleeding losses and there is $30M+ of intangibles on there related to that. They may be able to get it past auditors one more time if the next few months shows a turnaround at PC, but I'm not convinced. So I don't see any point bailing Bell Potter out now by buying shares at 20c. If theBS is impaired at 30 June then shares will be cheaper then. Bell Potter deserve to hold a large stake in this at sub 20c, they are culpable as well for this mess.
However, there are still decent fundamentals in this business that aren't necessarily there with some of the ones you and others mention (especially BUB and WHA). In the long run those are just as likely to crash back down like LON. Don't want to confuse share market hype with a solid underlying business. I mean BUB shot up last week or so just on the back of an MOU - we've all probably seen how these MOUs play out with Chinese partners many times - usually disappear into vapour. Historical performance of all 3 LON businesses shows they can perform well (and perhaps just need LON management to get out of the way and focus their efforts on China/powders).