I'm a touch surprised, it looked quite strong 2 weeks ago......

I'm a touch surprised, it looked quite strong 2 weeks ago... But, then again, the SP has fallen from $1.14 to 94c... if your SP falls almost 20%, your GNSPA are going to fall as well, yes?... over the same period, GNSPA have fallen under 15%..... so, it's not out of line. Though, it did look like it would hang around $79 for a while, IMHO.

Few buyers/sellers on the books ATM 1,425 and 884 units from 6 and 5...... but, yes, good volume traded 35 trades totaling $877,584 is a lot.

I think it would just be people taking a dislike to the Ordinaries, and taking out some of their anger on the Preferreds... Nothing to worry about, as long as there is nothing fundamentally wrong with the Ordinaries :).

If I had my margin loan steup, I would be happy to buy some GNSPA on it. Probably would do $2,000 GNSPA (double my current position) and $2,500 AAM.

I expect conversion, into ordinaries October 2010...

Though, if the pulp-mill doesn't go through (I think it will), I can see redemption into cash being a distinct possibility. $120M isn't exactly a large issue.

Look at the chart of GNS, on 22nd Oct it was $1.14....

I bought GNSPA at $74.50 on 1st Oct. GNS were approximately $1.18, give or take on this date...... GNS are now $0.94 and GNSPA are $70.55......

Realistically, the price fluctuations are normal.

Position ONLY in GNSPA.