PXG 0.00% 15.0¢ phoenix gold limited

Galba, how did you go hearing back from Jon. The more I think...

  1. 1,369 Posts.
    Galba, how did you go hearing back from Jon. The more I think about it, the more I want to bang my head against a brick wall. It was no secret they were going to do a raising, however, I didn't sell at the time as I just couldn't imagine they would get it so darn wrong.
    - 6% is too high. Why pay them more for this result!
    - stock had been trading at 18 c for quite a while, yet they raise at 13c - almost 30% discount.
    - the stockbrokers who are doing it have never shown a hell of a lot of love for pxg. Will they stick around? Someone dumped into prior to TH - someone blabbed!
    - the big guys will probably drive it below so 13c so retail punters don't take up their entitlement and then open their hands for more cheap shares.
    - screws option holders and people who tipped in money last time.

    The reason why a lot of gold stocks can't get a move along is because most of them are ran by people that just don't understand the market. Jon has got the runs on the board operationally wise but i am getting concerned on his market knowledge - which you ignore at your own peril. This raising has been on the cards for ages, yet it seems they tried to pick the market by getting a spike after their dfs. all i can say is what a fail. This isn't the first time he has failed to address the market. I acknowledge the big picture of raising the cash and becoming a producer but will shareholder value be unlocked by dumb decisions like this? Not happy
 
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