Ann: Trading Halt, page-32

Greg - Agree that it is all speculation and probably shouldn't be anticipating doom and gloom before the detail is provided... however one cannot help but be intrigued (and cynical) as to the reason/justification for taking CR action at this point in time.

A few things:

Part of me believes it would be unfathomable for BCT to raise funds prior to dropping underwhelming news when the most recent wording had been very bullish. For example, Iain stating the SP is our Achilles Heel just a month or so ago and then proceeding to raise funds at a discounted price to what the SP currently sits at would just be brutal; retail investors infer cues and invest their hard earned savings based on these kind of statements and it would just sit very uncomfortably with me if that eventuated... especially when Andrew is receiving obscene performance bonuses whilst the rest of us sit deep in the red licking our tender Achilles Heel.

Another thing is that BCT have notoriously been reserved and inconsistent with their communication. So whilst I initially thought it was strange that CR was mentioned without Fuji, it wouldn't surprise me if this CR is somehow tied up in the negotiations with Fuji and may be raised at a premium based on projected impact - there hasn't been significant volume available lately - so maybe a CR with Fuji is intended after all... also, if they can demonstrate to a Sophisticated Investor that the SP will climb with what's currently in the pipeline, they may still get to raise at a reasonable premium without Fuji deal.

I have to also admit that it is just bizarre that the last CR only raised enough to cover a few months - it doesn't really make sense unless the above has merit - or they just overestimated their position (through incompetence).

Lots to speculate on and hopefully the suspense is broken tomorrow and our discussion can move into evaluation and future prospects...