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Management took fat salaries, leaving pain for shareholders. ASX...

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8horse

26,847 Posts.

1841

12/06/18

13:23

Post #: 33651910
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Originally posted by sydneyguy ↑

Yeah I can understand that thought

But still believe as I have since it was 880- it shouldn’t really ever trade at such monster premium reported asset values

First it was oh in about 7 m- now after some valuations a huge 59 m and as you point out big drop in estimates cash balance

Cant see why anyone would rush in when it’s at almost double reported asset value per share now, but maybe some short covering will support trade in short term

Can’t believe professional
Managers were throwing money at it at a 600 or more premium to assets six months back- they should be embarrassed for being so reckless imo

Anyway good luck - use stops

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Management took fat salaries, leaving pain for shareholders.
ASX & ASIC need to work hard, imo.
The system doesn't really work for retail shareholders, imo.

BLA Price at posting: $1.99 Sentiment: None Disclosure: Not Held
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