ADY admiralty resources nl.

phillip thomas explains all, page-38

  1. 452 Posts.
    Following from Business Speculator...

    "Opes’ business model is, or rather was, that it lends as a finance broker on commission on behalf of ANZ and Merrill Lynch and takes full ownership of the scrip provided as collateral. It then lends that stock for a fee to short sellers, along with stock provided by institutional investors – for another fee."

    http://www.businessspectator.com.au/bs.nsf/Article/Billion-dollar-bust-D64HQ?OpenDocument&gclid=CJnk6fS0r5ICFRImawodzl6FQg

    If PT is not included...how come?
 
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