Yep it’s been a painful ride watching the Board and management team suck the life out of it over the years. Literally they haven’t lifted a finger over the past 4 to 5 years.
RCF kept me invested all this time however it now looks like they are happy to be diluted given the structure of the rights issue (i.e. not proportionate to their shareholding). Not a good sign that they have lost interest whereas not that long ago they were happy to invest at a premium.
Gone from having one of the best registers on the ASX (top 20 had 70% of shares on issue) to a basket case
Ann: Placement and Share Purchase Plan, page-25
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