Fat Prophets have been crystal balling this stock for yonks and...

Fat Prophets have been crystal balling this stock for yonks and so far they got it always wrong.

I bet these institutions who paid $3.08 few monhts back are not impressed by the stock performance. Sure there was an earthquake, but the only comment we had from the company on that was there did not appear to any damage, then silence.

If you paid $3.08 with the view of getting 40c a year, well 20c plus whatever they decide for the next distro, at $2.74 your first dividend is fully wiped out and you are 14c out of pocket. Supposing next distribution is also 20c and stock does not fall any lower (let us be very positive here), then your net return would be 6c on $3.08 investment. That is less than 2%, you can do better in a credit union, with no risk.

This of market placement BTW robed the long term holders of 2.5c per share as the distribution originally promised to be 22.5c was reduced to 20c justified by this dilution which they only asked to be approved by shareholders after it was all done and money banked.

I fear we will face more disappointments before we start grinning, if ever.