New analyst upgrade - Shaw 42cents, page-8

Sure was! Finished at a new 3 year high. Broker reports coming out now give reason for people to buy into the 20s and a strong NAIF result may be the fire that gives Luke the hand he needs to raise equity with a 2 in front - please! Speaking of NAIF, did anyone also notice in the Shaw's report that STA appear to have told them they are expecting more than $100 mill in funding? My goodness that would be outstanding for us - their terms are great (longer tenor) and they take a subordinate position. With that sort of support, if it comes, Luke should be able to get 70% debt with private/bank only have to take say 30-35% in prime position. The ducks are lining up beautifully.



Manila - hi!! Great to see you're still here. Been a long road. I've taken the opportunity along the way to average down quite significantly so it's ended up a good ride, at this stage - we're not there yet!

Yes David Harley would be happy I reckon. On David H, I do agree that Firezone and his syndicate were right that he had had his time, tough as it was. The Posco tyre kicking episode was a disaster, robbed David of a huge amount of time when he needed it. But I will say this about David, as well as being a good geologist as Firezone said, he was one of the straightest most decent people I've dealt with as a shareholder. There was no frippery, no waste, ran on an oily rag, honest, decent and seemed to me to care about his shareholders. We've been fortunate to have several good people along the way in STA and I currently really rate Luke too but kudos to David H for his integrity. i wish more were like him, especially in all our Hay St based companies!! (and the like, wild wild west).