re: Ann: Resignation of Director / Final Dire... Buy depth is...

re: Ann: Resignation of Director / Final Dire... Buy depth is beating sell depth but that is perhaps more because of the smart money having already sold out. And keep in mind that 3m shares at 0.9c is still only $27,000. With 14 or so bidders, that's punters speccing all of $2k a pop. So...hardly big bucks.

The problem for buyers is that the (very short term) sp upside on any bank moratorium is maybe 0.5cps. Sure, that'd be 50%, but:

1. Because there's minus $1b in equity, the downside is 100%. And there's a damn good chance of that downside occurring.

2. The long term is still horrible. The only reason the banks might hold fire is to try to reduce their losses. The chance of them making back their entire stake, and leaving shareholders with anything at all, is nil.

FD