non renounceable rights issue, page-136

Too funny goodoil .....

They must be absolutely shitting themselves the shorters.

They started at 5.5 and will now get to close out at high $1's and we are now jointed by another 80 million plus SOI.

I hope they read this thread they must just cry with laughter.

KAR's last feeble rational for raising at $5 odd was to short circuit the afromentioned shorters and allow them time to finalsie imminent JV's.

PS they didn't mention drilling 100% of Grace and torching everything they raised with..... - of course this didn't help the shorters !!!!!

And added a little to their salaries as has been pointed out- I am more than happy to pay for results. But of course it would be an independent audit that showed the power brokers at KAR were ' entitled' to their raises.... Results are irrelevant . Increase in pay commensurate with results is just a stupid concept - a foregoing concept to Directors of PL Companies and I for one thought these guys weren't like the rest... Another valuable lesson .

Well I rest so much easier- a fund is taking up their rights ( see earlier posts as to why they are doing that) and goodoil...with all due respects my post of a few days ago about who buys the stock now is perfectly depicted here.

All of a sudden KAR is a buy again in their eyes!!!! 72 hours ago it was a poison chalice.

I am deluded and diluted.... I wouldn't give them the steam of my excrement let alone another cent. Kerry Packer said he paid no more or no less than he had to to the taxation department because ' he didn't like what the Government did with it'

Trust these blokes with another 200 million when they have eroded our wealth( not their fault simply a cycle...)

This will starve off the shorters and watch them burn .... Oh yeah I can see them all lined up to SELL as soon as the 'great' fully underwritten issue gets made to market tomorrow.... MY GOD HOW WILL THEY GET OUT ...let's see they shorted from $5.5 we have another 80 million + SOI and it will open at the rights issues price of $2 on MONDAY.

They have nowhere to hide gosh should they sell at a 100% profit or settle for a measley 50, 60 ,70 or 80% if KAR find a deal or get a positive result from Poseidon North


But that's just me