G'day Bazz. Nope, I haven't been in touch with the Company since the AGM - that would be pointless. They wouldn't give it and I wouldn't ask for it. Could you imagine the furore if they gave me some information that they didn't simultaneously release to the market??
Mate, I share your frustration - along with probably at least 300 other holders (including some of the "insiders" no doubt)! I don't know whether this extended hiatus is a deliberate strategy or whether they are still trying to hammer out some financing details - but, for me, I can't see any reason to start unloading.
Remember, there are only 165m shares issued and, given the amount of shares the insiders (and their related parties) hold, there is not much liquidity. This helps explain why the SP doesn't hold any gains and is being kept within tight railway lines. However, until some of those large holders start selling (think disclosure statements here!) - one can only assume they are happy to continue holding....and why would that be?
Eventually, something is going to happen - one way or the other. I am sure the Directors will be at this year's AGM and, given their reputations, I don't think they will want to be defending why there are still no deals announced.
Unfortunately Bazz, that's the fun of playing in the share market sandpit. If you know of other sandpits that offer bigger opportunities than Panda Hill - let me know and we'll both go there!!
CXX Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
