Quite right, the Dec covenant has been satisfied. Legal action by PBD will ensure that remaining covenants are met, apartments can be resold at a large discount and defaulting buyers have to pay the difference.
There have been some very large purchases of between 1m and 3m shares over the past week, very interesting.
Feb- March 2011 will be very interesting once WAPC gives the final approval to Point Grey. This approval could see the value of Point Grey rise from $100m to upwards of $250m IMO.
Very glag Gidgegannup no longer held- the WA EPA has just approved a new Boral quarry in the town- poor landowners.
To all disgruntled investors and those with nothing better to do than winge, I wish you a very merry christmas although im sure you will be bitter and lonely in front of the telly.
PBD Price at posting:
10.7¢ Sentiment: Buy Disclosure: Held
