Hy guys, I got out in the red. I held on for 7 months or more so I think I know a bit about patience and getting a feel for company's management.
I was not impressed by management at all. No communication with shareholders ( I had tried directly several times) and repetitive info in presos that lacked any detail. The option issue they were going to give themselves towards the end of last year was a disgrace (eventually pulled) but indicated to me what type of management we have. Management are the major shareholders in this company and treat it like a private company (big salaries too for a little coy yet to prove themselves). If you don't have good management your stuffed as a shareholder.
I thought it was best to move on.
Now after declaring that there was to be no capital raisings after the issue of the prospectus (that they would be self funding on expansion and bank debt to draw on) we had a small one a couple of months ago and now another one.
Anyway lets see what they have to say now.
CMC Price at posting:
27.0¢ Sentiment: None Disclosure: Not Held
