Ann: Trading Halt, page-14

I was aware of that notice. I don't think it confirms anything. Reasons I'm worried about a CR:

1. The halt is requested until Thursday. Good to fix the price, so they can approach institutional investors offering 8c per share and have this finalised before announcing the retail component on Thursday and watching the price collapse. Pity they didn't wait until tomorrow given the ASX today.

2. If it was a sale, why can't they just announce it?

3. There was always a risk they need cash if they don't sell Nifty. It was even flagged earlier in the year.

4. APAC's announcement about being willing to participate in a raise.

5. The review was to be completed in June. During this whole time, it seems they were trying to run a sale process. It is now June - would be very fortuitous they managed to secure a last minute buyer. On the flipside, maybe they were dealing with a couple of offers?

6. It seems to be a bad time to find buyers for assets given everything else going on. Not sure the big end of town is as optimist as retail has been.

Hope I'm wrong. Guess it's pointless speculating as there isn't anything we can do.

One factor against a CR is that I would have expected the CR to be announced together with the Area 5 expansion - but that would have been pretty disingenuous, given Renison seems to be running ok and it is really Nifty that is using up the cash.