rising aussie dollar, page-12

The fact is that insto's are annoyed that the placement happened at all. tehy consider it to be a poort management decision. Les told an insto dealer i know that they did not need to raise the money but that he was convinced (by Hartley's) it was a good idea. Typical Hartley's. they tell clients the things to convince them to so a raising so they can get fees. Rather than tell them things for the good of the company. And do not think that all brokers are like this - they are not. It was a ridiculous placement. They now have c. $40m cash plus the ongoing free cash flow.

So because of this there may be an insto just saying "I am out" on the basis they don't think Les made a good decision.

And me saying this does not make me happy. I hold SLR and bought at a price above the current SP. It is undervalued. But until the large seller is gone the SP will remain down.