media release, page-6

thanks pj,


no doubt the very fact this development has approval will add significant value to it.

Am interested to see more details as it seems to be selling well.

Really looking forward for the upcoming results, Markets are getting worried about sovereign debt in particular Europe. Well, All our DIRECT exposure to Europe\UK is now off balance sheet yet we still get to enjoy any major upside should the assets increase to a point where we have + equity over the next 3 years.

What we have is local assets in an economy very much weathering this storm (considering current RBA's monetary policy). I'm not saying we won't see any further downside here, but nothing major IMO unless of course Europe and the US file bankruptcy. At worst management have Indicated they hope to break even, Our short term debt has been either been retired, or successfully extended.

Valuations: being conservative lets apply a 5% discount to all assets on the balance sheet and round gearing up to 50%

should still leave us with a NTA of 18c throw in the funds management business which should be doing very well, and we should have a NAV of 23c.

so 23c of value in a stock that is no longer a speccie IMO. I think we will now commence a growth phase so by next report we will see increases in NTA & NAV.

Earnings guidance is now not out of the question, and with this will give us an idea of har far off dividends are !!

Onward and upward from her, irrespective of the sharprice,

so once again just crazy people selling for 10c

but that how opportunities are made

DYOR