mates undone, page-9

"I doubt this co. will survive, "

if that is true rockme why are you still holding ? :)


"a large percentage of stock being short sold even at this price everyday, "

True and I suspect this is done to make it unattractive for existing shareholders to take up their entitlements so the underwriter ends up with as much stock as they can, possibly so they can return the "borrowed" stock back and collect as much stock as possible at current prices. We know that a large percentage of stock sold recently has been coming from shorts and the insto leftovers, the questions is who are the buyers accumulating the hundreds of millions which apparently changed hands recently.

Its a shame that Australia doesn't have a Securities and Investment Commission that could investigate the recent dealings in BSL and in particular how did Credit Suisse who was one of the shorters in BSL in recent times ended up the sole lead manager and underwriter of this Capital Raising. Would be interesting to find out when Credit Suisse and fellow AMSLA counterparties borrowing stock from NAB and others found out about the CR and if they started shorting before or after they found out there was going to be a major capital raising and that one of them was going to be the underwriter.

Most likely the whole matter will end up swept under the rug and as usual the major losers will end up being the superannuation account holders with BSL in their portfolio, I suppose it serves them right for allowing their super company to lend the stock to shorters. lol