Similar has been posted and endorsed by many here on HC over the last 18 months, as the share price declined from 37c (when holders were saying "won't sell my stake for under $1" to 3.8c (with holders still saying "won't get my stake for less than ... ". Problem is no one is offering to buy holders' stake in the company, and holders (hodlers!) live in denial on this. If there are no buyers, the seller doesn't dictate the sell price ... but instead prays like hell that the buyer has a competing bidder that may stimulate some kind of premium.
Yes, this needs to be mined ASAP, but AVZ are in no position to facilitate this. I could have said "SP will decline to 0.1c in 2 years", but thought that might be a bit harsh.
As a holder, I am hoping there is a TO offer at some stage soon, but I am not delusional enough to think I have much say in what price the bidder sees as worthwhile. I couldn't care less how big the deposit is, as neither I nor the company I invested in have the funds or capability to dig it up.
And there is nothing wrong with being trigger happy ... maybe if long term holders had been a little quicker with the trigger finger over the last 18months they wouldn't be looking at such massive negative returns currently.
20c is a 400% premium to current SP. Not to be sneezed at, unless you are so in love with the particular lump of earth you can't bear to part with it
AVZ Price at posting:
4.1¢ Sentiment: None Disclosure: Held
to 3.8c (with holders still saying "won't get my stake for less than ... "
