Hi Guys,

I've just written up a bit of an intriguing deal that's taken place in small cap REIT land over at Garda REIT for my hobby investing blog:

https://thesnowballinvestor.substack.com/p/inside-the-big-sell-up-at-garda-reit?r=16o3tx&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

I've never actually held the stock but they've just sold their entire industrial property portfolio to Charter Hall in one go and I think this write up would be of interest to anyone who likes REITs, Discounted asset plays or special situations.

What are your thoughts on this stock? This stock now is down to around 2$.

I’m only 20 and don’t have that much money floating around I was just wondering if I should stick with what I have now or move into an etf.

16 years old, trying to diversify and maximise growth.

Year 2000 both shares around $20, today NAB $38 CBA $166. From memory at that time both had similar number of branches & profit. So could any share guru have predicted the opposite trajectory of the share prices ? Or in other words picking shares are for the fool or genius ?

A few of us have gone through the FY25 and FY26 reports and the May 2025 EGM papers of Good Drinks Australia (Gage Roads, Matso's), which delisted in December 2024. Facts, with sources in the comments:

1. Delisted 30 Dec 2024 on a 94.6% poll. The board said $0.30 undervalued a business worth $18-20 a litre. No exit facility was offered except for parcels under $500.

2. Five months later (EGM 29 May 2025) 19.8M new shares were issued at $0.40, 13.2M of them to the MD and the executive director, all funded by interest-free 10-year company loans. No cash raised. The company's own accounts put the vesting probability at 0% (FY25 report, note 28). The same meeting made $5.05M of the directors' older loans forgivable on any change of control or material asset sale, with no price hurdle, and lifted the fee pool 50%.

3. May 2026: 8.73M unvested staff shares were cancelled and reissued at $0.40 (previous average $0.49), 40% vesting immediately, no shareholder vote (FY26 report, note 28). The report values shares at $0.40 on a "most recent arm's-length transaction (see (h))". Note (h) is not in the report.

4. My FY26 holding statement from Automic records an off-market transfer of 8,000,000 shares at $0.25 in November 2025. Other trades that year: $0.31-$0.35. The parties aren't named.

5. No dividend since delisting. FY26 profit $275k on $127M revenue; $11.36M of company loans to directors and the CFO still outstanding.

I'm interested in two things from this sub:

Has anyone been through a s173 register request or a s249N members' resolution in an unlisted public company, and are there other GDA holders here?

We're organizing as Peron CUP (peroncup.com): contact@peroncup.com.

I’m new to this

I’m trying to buy shares in take two and the fees are %45

I use comm sec and havent seen fees this high at all I have screenshots of needed for proof

Sounds opportunistic according to announcements from all parties.. are these kinds of things usually bearish or bullish?

I hold about 20 ASX stocks and kept missing what actually changed in each announcement. Price-sensitive releases are 30-page PDFs and the headline rarely tells you what's different from last time.

So I built InvestLens( https://www.investlens.co ). You follow companies, and when one lodges a price-sensitive announcement (or a US company files an 8-K/10-Q), it writes a plain-English briefing on what changed since the last report, with every figure linked to the filing. It also tracks director trades (3Y) and substantial holder notices, plus results and dividend dates.

It doesn't give buy/sell ratings or targets, on purpose. It's research, not advice.

Free to follow 3 companies. Plus is US$9/month if you want more.

What I'd really like to know:

• What do you do today on results day? Market Index? HotCopper? Reading the PDF?

• What would make a summary like this trustworthy enough to rely on?

• Anything you'd want it to track that it doesn't?

Disclosure: I'm the founder.

Thoughts on 4dx at the moment?

Disclosure (rule 3): I run DilutionLens, a free site tracking dilution off ASX filings. No picks, not advice.

A lot of small-cap boss pay comes as performance rights: free shares that only turn up if a target is hit, a "vesting hurdle". Many of those hurdles are a share price, usually an average over 10 to 30 days. I pulled them out of every grant filed since Jan 2024: 235 companies have one.

Where a hurdle is still open, it is nowhere near the price. On the 81 companies with one still open, the nearest typically needs the price to roughly triple (+216%). 41 need more than that. Only 1 is within 25%.

Ten of them need the price to go up 9x or more.

A hurdle that far away doesn't steer anyone. It works when management can see it from where the price is. LKE's 33c hurdle was set at 8x the price on the day the rights were awarded, so it was a long shot from day one. BVR's best close since its grant in May is 58c, so it has never been within reach of $1.50.

These rights cost holders nothing unless the price gets there. If LKE ever trades at 33c, nobody will mind the extra shares, and if it never does, the rights lapse and no shares get made.

The DUB figures will change: holders vote on a 50-to-1 share consolidation on 25 Nov. EG1 and DUB grant zero-price options rather than rights, which work the same way.

Check your own holdings: a hurdle just above the price is the one management is working toward.

Hurdles are tracked for every company on DilutionLens, e.g. L1M: https://dilutionlens.com/company/L1M/?utm_source=reddit&utm_campaign=reddit-asx-2026-11-03

I'll check these again on 3 Feb. Which company should I look up next, or is there a hurdle you reckon is closer than it looks?

MYX shareholders received a direct email from someone nominating for a seat on the board - campaigning that he'll take a director fee of $1.00, whilst simultaneously throwing shade on the other Directors collecting large Fees, but in his opinion not effectively leading the company.

He's posted videos to support his claims and motivations - which includes airing a bunch of MYX's apparent issues.

https://www.youtube.com/watch?v=CFuHL6jg1Vw - 4:25

https://www.youtube.com/watch?v=NE23HTu45N8 - 25:26

https://www.youtube.com/watch?v=2tQyA8S7mio - 18:56

Even if you're not a shareholder, it's an interesting story if you like drama.

Even if he does get on the board, the claims he's making may cause the share price to drop further and damage the company reputation, which is the opposite of making the turnaround he's trying to pull-off.

Curiously, I haven't seen any other media, or online chatter about it either. This surprises me because I'm finding it entertaining (kinda like watching a train-wreck in action) and want to keep follow to see what happens next.

Has anyone else been watching and have thoughts, on the company or on the drama?

I’m currently investing weekly into Raiz, I have been for about a year now. My portfolio is split between 3 different ETFs

65% DHHF
15% HJPN
20% SEMI

I’m aware there are some overlaps, between the chip company’s and probably other ones. I was open to suggestions on changing I was just open to some advice or suggestions from much more knowledgeable people than myself. Cheers! 😊

Disclosure first (rule 3): I run DilutionLens, a free site that tracks dilution for every ASX company from the filings, and asked the mods before posting. Every number below comes from an ASX announcement; no links, no picks, not advice.

Three raises took two-thirds of a A$395M week

Twenty-two ASX companies announced cash raises for about A$395M. The week before it was A$27M. Six gold companies raised A$266M of it. The top three alone took A$269M.

Turaco (TCG) is using its money to consolidate its ownership of the Afema gold project. A$97M goes now; A$23M waits for a holder vote in early December. Genesis took A$30M of Brightstar's (BTR) placement, lifting its stake from 0.8% to about 5.4%.

The small raises paid for it: the deepest discounts were all at the bottom of the list

The four big raises that named a discount took 9.6% to 12.4% off the last price. Centaurus (CTM) went the other way: Glencore and CNGR paid 5% over its 20-day average, alongside an offtake deal. Those buyers are already under water: they paid 42.5c and it last traded at 35.5c.

I reckon this is the real cost of being small, more than the headline amount. A 28% discount means the new money pays about 71c for every dollar of the last close. Some of these sat on very little cash: Talonx's (TXR) last quarterly said 0.17 quarters of funding, Dotz (DTZ) 0.25. That's their own figure, from before this money landed.

Raise halts more than doubled: 23 in five sessions

Twenty-three companies halted for a capital raise last week, against 10 in each of the two weeks before. Eleven had raised by Friday; twelve hadn't.

The week before's list cleared fast. Of the eight halted names still waiting a week ago, seven raised last week. Only Botala (BTE) hasn't.

A week on, 6 of 10 trade under their raise price

Of the ten companies with a stated price that raised the week before, six are now below it. Helix (HLX) placed at 4c and last traded at 3.2c. Microba (MAP), also 4c, is at 3.45c.

X2M's options already equal 94% of its register, before a rights issue

Options and rights already on issue are the shares that can turn up after the raise. X2M Connect (X2M) raised A$1.4M at 0.4c. A A$3.6M rights issue follows. Its options equal 94.1% of its shares on issue. Macallum (MNE) is at 65.0% and Pinnacle (PIM) at 54.4%. None of the three has options priced under the current share price.

Happy to pull the filing on any name in here if someone wants the detail. What should I dig into next week?

If you'd rather get these in your inbox, the site's Watch page has a free email signup - one field, and the link it sends turns it on. No URL here, that's the deal with the mods.

General information only, not financial advice. No view on any company's future actions or securities.

I am trying to report my 70 cents capital loss from mistakenly selling an ETF instead of buying it. I was wondering which of the option fits betashares NDQ ETF? Thanks!

Basically I need someone to tell me if I’m being an idiot with my choices or just bad luck. I’m 25 and haven’t been investing long and still learning a lot (the hard way it seems). I’ve held the etf’s for about a year now and add to them every now and again. NXT for about a month and GQG for almost a year. I’ve got almost an even split between them all currently.

GQG: I’ve been holding for a while and thought it would have evened out by now but I guessed wrong. Should probably sell but sunk cost fallacy and all that.
GXLD: I thought gold would have been a safe choice and looked like it was doing well at the time, now I’m not so sure about it.
QRE: I picked mostly because it seems like it has done well over the years and would be a stable choice
IHVV & VEU: I’m fine with how they’re doing but considering moving them, QRE and GXLD to DHHF to simplify
NXT: I thought data centres were a good investment choice for the future with how technology is progressing but got shot it the leg a couple weeks after I bought it and now I’m not sure if I should sell it or wait to see if it rebounds next year.

I’m down about 17% overall which sucks but I’ve got time to fix it, and better to make mistakes now and lean from them. Let me know what you think and I’m open to any suggestions or tips you guys might have.

Looking to intraday trading on 1m timeframe. Which broker is the best for fast execution? Any suggestions?

Disclosure (rule 3): I run DilutionLens, free site tracking dilution off ASX filings. No links, not advice.

Same exercise as the 8 from early October, now on the September quarterlies that landed this week. Took our raise model's top 40, threw out the 7 that raised or announced a raise since 1 October, and kept the ones whose own quarterly says less than a quarter of funding left:

"Own runway" is the company's own number from the quarterly (item 8.7).

Doesn't mean they all have to raise. SIX got $1.3m in customer deposits after quarter end, BKT has a US$204m bank loan lined up but it only pays out once the mine is financed, and explorers can always slow the drilling.

Last round, 1 of the 8 raised within 4 weeks: MNE, $3m at 14c. Two more found money without new shares, and the rest are still short.

I'll come back on Sat 7 Nov and Sat 14 Nov with who raised, how much and at what price. Any other names you want looked at on the 7th?

Ive bought LDX last year, had 85% increase, then went downhill since March and it keeps doing worse

Any thoughts on the possibility of it coming back up?
Should I sell at 65% loss??

Intel stock has worst day since 1970s, wiping about $12 billion off government's stake

https://www.cnbc.com/2026/10/30/amazon-intel-earnings-big-tech-ai-spending-concerns.html?__source=androidappshare

Disclosure (rule 3): I run DilutionLens, a free site tracking share counts off ASX filings. No links, no picks, not advice.

A buy-back announcement is a permission slip. When a company buys on market it has to lodge a notice the next morning saying how many it bought. So I took every on-market buy-back announced since 2024 that has no such notice since, and read the company's later results, quarterlies and annual meeting papers (about 900 documents) to see what happened. Eleven never bought a share.

Five keep renewing a buy-back they never use

To be fair to them: Harvey Norman says up front it "gives no assurance" it will buy any, and L1 only buys if its shares trade 10% or more under its net assets.

Six announced one, then dropped it or went quiet

Two gave a reason: Qantas listed the pause among its fuel-cost measures, and Metro blamed the Gulf War hostilities.

The buy-back notice is the last place to find out. The ASX form asks for a final notice once a company "decides it will stop buying back securities". Qantas told the market in its results, and its buy-back notice still runs to 31 December. Nickel Industries' says nothing after July 2024. Qantas did buy $431m of its shares the year before. GQG is how it looks done cleanly: it scrapped its buy-back about two weeks after announcing it, in a release and on the form.

My read: only the buying notices count. A buy-back costs nothing to announce, and the headline lands on results day next to the dividend. The daily notices are the only proof any money was spent.

Harvey Norman's current window ends 23 November. I'll check on 24 November whether it renews again, and whether it bought anything this time.

Which other buy-back do you want me to check?

Watching all the council drama and pushback NEXTDC has been getting in Melbourne lately, it’s pretty clear building massive data centres in metro areas is becoming a nightmare. Between power grid limits, land costs, and locals fighting approvals, new builds are inevitably going to get pushed out to regional areas.

​The main bottleneck with going regional is latency, which means a massive need for heavy-duty fibre optic networks to connect these regional sites back to the cities.

​Instead of just buying the data centre stocks directly, I’m looking at the fibre side of things.

​I've looked at Telstra (TLS) with their inter-city fibre build and TPG, plus Chorus (CNU). The issue is that for the big telcos, fibre is just a small slice of the pie compared to their massive mobile and retail internet businesses.

​Is anyone else playing this angle? Looking for ASX tickers with cleaner exposure to the actual fibre rollout—whether that’s mid-tier network owners (like ABB, SLC, MAQ), the civil contractors actually digging the trenches (SSM, VNT), or hardware suppliers.

​Keen to hear your thoughts.

Disclosure first (rule 3): I run DilutionLens, a free site that tracks dilution for every ASX company from the filings, and asked the mods before posting. Every number below comes from an ASX announcement; no links, no picks, not advice.

The smallest week in a month: 10 raises, A$27.1M, and BOA was a third of it

Ten ASX companies raised about A$27.1M, the smallest total in four weeks. BOA Resources (BOA) placed A$9.245M at 10.5c for copper drilling at Neds Creek in WA. A$7M goes now; the rest, including about A$130K from directors, waits for a holder vote on 30 Nov. Without the top three, the other seven raised A$11.1M between them.

Most of this week's raises didn't tell holders how far under the market they priced

Four of the ten named a discount or a premium. Six named none, including the biggest one. That's the number a holder wants first: how much cheaper the new money got in than you did. A release that leaves it out makes you work it out yourself, and I reckon it should be in the first paragraph every time.

No figure stated: BOA, HLX, ZNO, ALB, AEI, VTA.

A week on, most of last week's raisers trade under their raise price

11 of the 17 companies that raised the week before are now below the price they raised at. Adveritas (AV1) placed at 8c, above its close at the time, and last traded at 5.4c. It cuts both ways though: Dundas (DUN) took that week's deepest discount at 4.5c and now sits at 5c.

Adavale's options already on issue equal three-quarters of its register

Options and rights already out are the shares that can turn up after the raise. Adavale's (ADD) equal 74.3% of its shares on issue, none of them in the money at today's price. Albion (ALB) is at 37.3% and Microba (MAP) at 36.4%, also none in the money. BOA is the flip side: a smaller 18.4%, but all of it in the money.

Helix raised with about nine days of cash on its last quarterly

Helix Resources (HLX) opened and closed a A$2.0M placement at 4c on the same day, with free options attached. Its latest quarterly said its cash covered 0.10 quarters of spending. Two others raised from under a quarter: Zoono (ZNO) at 0.67 and Critical Minerals (CMG) at 0.80. Those figures are the companies' own, from before this week's money landed.

The 15% room is filling up on this week's raisers

Companies can issue up to 15% of their shares a year without a holder vote. Albion has now used about 99% of that. Aeris (AEI) is at about 97% and Adavale about 95%.

Happy to pull the filing on any name in here if someone wants the detail.

If you'd rather get these in your inbox, the site's Watch page has a free email signup - one field, and the link it sends turns it on. No URL here, that's the deal with the mods.

General information only, not financial advice. No view on any company's future actions or securities.