from bloomberg, page-17

Okay, if I was a buyer my inital premise would be "what is the cheapest I can get this for?" rather than "I should pay what the company faithful think it might be worth".

The short answer to that question is that there is a significant chance that if nothing happens in the next two months (or maybe less) then I can probably pick this up pretty cheaply when the bank sells it to get their money back. Heck, the bank only needs to get it's $50m back so if I offer $75m I might pick it up.

Sure, I run the risk that somebody gets in ahead of me and I miss the deal, but these guys would rather miss 100 deals than overpay for just one. That is the nature of business - it's not charity work for the distressed owners of an overstretched aussie pretender.

And IMMINENT price rises are about as meaningful as the car salesman's pitch that you better buy this week because there's a price rise coming through at the end of the month - lol.

Cheers

Badfish