$205 million due oct 30, page-28

TTC,
I'll repeat this again since you have chosen to ignore it once.
I am short BBI for 500,000 securities at average 7.3c.
I am long BEPPA for 3.4M (after selling a few more today).

Now you work out what is in my best interests? If BBI go into administration/suspension/liquidation, I make the grand total of $36,500 from the short and lose all my paper profit in BEPPA (maybe I receive something in 15 years?) Current BEPPA holding worth $516,800.

If BBI go to 25c and BEPPA 40c, I lose $88,500 on the short and make an additional $850,000 on BEPPA (3.4M x 40c-15c).
I'm short term negative about BBI because asset sales are taking longer than expected, buyers are aware of BBI's position and there are half a billion dollars worth of maturities due by Feb 2010. Simple.

PS. If I really though Hot Copper had any influence over share prices, I would not be pointing out negatives whilst still trying to sell another million BEPPAs. Some people seem to think HC influences prices. The big money in the market doesn't give two hoots or four fifths of a banana sandwich about HC forum members and most probably have never heard of this website.