Some posters coming from SSN (Samson Oil) that trades 10 times its 2014 EBITDA while LNR trades just 5 times its 2014 EBITDA, are trying to create a storm in the tea cup.
Let's set the facts straight.
Wyllie Group is not an insider. Wyllie Group was a shareholder/fund.
Wyllie Group sold but nobody can blame a fund manager for locking his almost 200% gain.
Wyllie Group has bought below A$0.20 per share.
The fund sold to other Australian funds and institutions and will move to the next LNR, hoping to get another 200% gain in one year. I would do the same if I was the fund manager. There is nothing wrong with his strategy. He wants to maximize the returns of his portfolio as any fund manager is doing the same thing.
LNR Price at posting:
52.0¢ Sentiment: None Disclosure: Held
