A very pleasing announcement from Gage Roads, this acknowledges the problem that caused a major upset to Gage's production process in 2014 and the sudden drop in share price was the result of equipment failure and not the result of operator error as some of the rather lesser minded posters to this site have continually to rant on regarding.
It would appear that while the compensation may come close to covering the cost of material and some of the cleaning up of that rejected batch of brew it certainly would not cover the loss of credibility and share price suffered by the company and shareholders.
Full credit to the Directors for perusing this claim through to a result, it seem that they have taken a tremendous amount of unwarranted flack from some quarters and still progressed the company to a healthy position.
I believe that with this announcement, the results of the recent capital raising and Woolworths departure, the promotional efforts will see Gage Roads have an excellent year in 2017 and will see share price regain the levels experienced in early 2014.
GRB Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
