if nen closes at 5.4c or 5.5c, page-31

Remember NEN has revenue of $2.5m per quarter (and growing, grew at 25% last quarter). So its trading at 3 times growing revenue stream at 5.7 cents!!!. Even my worst oilers (GGE) are trading at 4 times revenue stream (no growth, no cash).
So you get to 7.3 cents very quickly based on this.
If they have $10 million cash you get to 10 cents very easily.

Definitely forced selling yesterday and this morning, margin related. Also feels like some came through at this mornings Macquarie window.