Is it really a question of survival? I mean the bankers know that if they pull the pin now that they wont see a money, they need this to survive so they can get their money back, it going down to 0 isn't going to help them, even if it goes into admin the net assets aren't anywhere near the 600m+ in dead. I think the banker were encouraged in the growth and in the sector for a debt of that magnitude to be approved in the first place. Yes, there's heaps of fear in the market place and it's a perfect storm for shorters to play on, large amount of instos have this, (they can see the orders and stop losses) the results are bad and it's time to drive this down as low as possible. They were allowed to change the debt ratios up to 4 and have room to go up to 4.5. This is a wake up call for the management team to get there 5hitt together and turn this around. Again, if you listened to the call nothing about the debt or the survival of the company was mentioned, nothing about having money to continue or raise capital or anything. I'm still confident that this is going to come good soon, even i there's a sea of red at the moment.
SDA Price at posting:
82.5¢ Sentiment: Buy Disclosure: Held
