Ann: Annual Report to shareholders, page-5

Retail always invariably gets played when you deal at the spec end of the market! Its more an insight into the ineffectiveness of our regulators to protect retail investors from the sharks out there. From your shonky operators of the spec companies right through to the bucket shops and all associated cronies that are in on the heist. To be very clear, I am merely talking about the market in a very general sense. I am not saying that this is the case with BNR. Far from it. I believe BNR is a decent spec and better than most of the others out there and hence why I hold.