update announcement, page-32

'p.s Thanks for the market update HM, well played!'

cheers Rubes. The power of HC.

The SMH article is very interesting. I hope inter made these comments to the SMH as part of a plan to set up another bigger story when they announce the CR is going ahead next week.

The article also shows that my source about the sub underwriting terms was right. The subbies are on the hook to pay up unless inter terminates the CR. The subbies themselves cannot back out, as the out clauses are not in the sub underwriting agreements, just the underwriting terms.

But if inter terminates the CR to let the subs off the hook their Sophisticated Investor clients that put $600 000 into MNM at 9.75c will not be best pleased.

Never a dull moment with MNM.